Romania
Romania’s industry maintains sluggish growth in April
1.5% y/y growth of industrial production in April is far from the 5.2% figure envisaged by the government when forecasting 5.5% GDP growth this year.
Romania’s government seeks more money as Bucharest municipality “nears bankruptcy”
Leaked letter from finance minister warns money to pay public sector salaries may run out before the end of the year.
Romania’s trade gap keeps widening as imports are particularly robust
Import growth reached double digits again in April, pushing the trade gap up by 36% y/y in the month.
Consumption pushes Romania’s GDP growth to 5% y/y in Q1
Detailed data point at an excessive rise in private consumption, pushing up net imports at an intensity not seen since the 2007-2008 surge ended in recession.
Romania’s unemployment remains at past decades’ low
Unemployment spiked after the 2008-2009 recession as industrial companies made redundancies in response to reduced activity, but the labour market has tightened dramatically in recent years.
Romania's budget deficit exceeds worst expectations
PM Viorica Dancila sacks the head of the tax collection agency and appoints a high-profile insolvency lawyer as her economic advisor as budget deficit nearly doubles y/y in January-April.
"Dirty diesel" cars still on the roads in Central, Southeast Europe
Across the EU just 10mn of the 43mn diesel cars and vans caught in the Dieselgate scandal have been recalled, and recall rates are lowest in the eastern EU members, finds Transport & Environment.
Southeast Europe’s banking sector gets new investor geography
Hungary’s OTP in, Greek banks out, and a new crop of privatisations coming up in Serbia and Slovenia.
Romanian PSD moves to fix image after former leader sent to prison for corruption
PM Viorica Dancila announces steps aimed at re-establishing the credibility of the party, including with broad government and party reshuffles.
Prison sentence for party leader caps disastrous day for Romania’s ruling PSD
Liviu Dragnea, arguably Romania’s most powerful politician, has been ordered to surrender to the police today after receiving a final 42-month sentence from the high court.
UPDATED: Double blow for Romania’s ruling PSD in justice referendum, European Parliament election
PSD sees its share of the vote slump in European Parliament election, while voters resoundingly back a block on the party's controversial justice reforms.
Eastern Europe's sustainable fashion designers embrace old traditions and new technologies
Solo designers and small creative companies are producing sustainable fashion lines in Central and Eastern Europe, embracing new technologies to reduce the industry’s environmental footprint and insisting on good conditions for their workers.
Voters prepare to punish their ruling parties in European Parliament elections
Following domestic political scandals in several Central and Southeast European member states, many voters just want to give their ruling parties a kicking in this week's EU-wide vote.