Financial Press Review, 5 July

Romania drew the investors’ interest again, the Baccalaureate disaster translated into numbers or ... the BAC and the labor market plus the rush for jobs abroad were the main topics of the financial newspapers.

The Bursa opened with good news today: Romania drew investors’ interest again.

’Passing grade for investment,’ the journalists wrote, announcing that the international evaluation agency Fitch has improved the long-term credit rating for foreign currency, with a stable outlook.

Thus, after consulting the specialists in the field, the Bursa found out that Romania was at the 2004 level, when the same agency has granted us with this rating.

In the assessment of the Fitch specialists, the rank on which that was placed Romania, showed, quote, ‘progress in redressing the country after the financial crisis effects, which began to get noticed after the resumed growth of the GDP in exports and the solid results in reducing deficits.’

Romania drew the interest of foreign investors again, but, however, both people from Fitch and economists quoted by the Bursa stated that obviously, more action is needed - given that the deficit target next year is bold - 3% of the GDP and the nonperforming bank loans rose to 13 percent of the total.

’Fitch restored Romania on safe investment area’, the Ziarul Financiar also headlined, whose journalists noted, quote, ‘market reaction was instantaneous: quotations have fallen below the threshold of 4.2 lei per euro for the first time since mid-June, when the world was scared of Greece's problems.’

Moreover, the journalists continued, ‘The Bucharest Stock Exchange ended the day with an increase of one percent.’

Also in the Ziarul Financiar, ‘The national disaster at the 2011 BAC’.

Journalists translated the BAC into figures ... added, subtracted and ... actually acknowledged that: 260 million euros the state spent the last four years with the teachers' salaries and the purchase of books; 80 million euros is the amount that will no longer be given to the state and private universities in the next three years and 580 million euros will be cut down from consumption, also in the next three years, if the number of baccalaureate graduates enrolled in college is halved.

’The gap between education and labor market,’ the Curierul Naţional wrote.

The observation emerged in the context in which I quote: ‘employers treasured competence the most, stressing the need for such people at all levels.’

And because this topic remained to employment, Romanians are still interested in jobs abroad, journalists from the Curierul Naţional said, noting that recruitment portals had an increasing number of viewers.

In the last month the number of jobs ‘from abroad’ viewed on the Internet increased by 13 percent, and Great Britain was among the countries with the most vacancies.

Concretely, the journalists wrote while quoting an important recruitment portal, for the 40 537 vacancies there were sent almost 60 000 resumes.


Translated by: Iulia Florescu
MA Student, MTTLC, Bucharest University.