Business Arena relies on an innovative approach, each edition containing interviews More Business Arena is a monthly magazine published by Business Arena Publishing Group, targeted especially at business leaders and experts in various sectors of the economy.
Business Arena offers a rich content in English, thus being a useful source of information for business people and specialists who are not speakers of Romanian. Launched more than 10 years ago, this magazine now reaches an important special section inside milestone in its life. Thank you for joining us on this fantastic journey. We're looking forward to another issues!
Launched just confidently into the future. Its team of as the global financial crisis was setting in, dedicated journalists, graphic design our magazine has seen a rough ride, while artists, sales and marketing professionals high production costs and dwindling count on innovation and product quality advertising revenues have forced many as long-term strategies for development.
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This allows Business Arena to and business partners alike. From roundtable conferences we would like to thank everyone who has focusing on foreign investment to major read and supported this magazine.
But none of continue to keep an eye on all the issues these could have been achieved without affecting the business community, its readers and business partners, reflecting its views, hopes and challenges. In the past year a ghost has been haunting the public debate.
It subsequently became the preferred topic of conspiracy theories. Conspiracy by political groups and media outlets close to theories purport "to expose something no one president Trump in an attempt to dent ever attempted to hide, most of which is not President Biden's popularity, an advocate of really happening anyway, some of which global fundamental changes.
Once rolling, the actually should.
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However resounding, what followed fell way short of rhetoric. If anything, society has at times moved in the exact opposite direction. Although millions of people have been lifted out of poverty, economic polarization worldwide RADU CR CIUN has deepened, the wealth of a minority elite has not ceased to increase at much faster rate conspiracy ball only amplified and tweaked compared to the rest of the population.
Meanwhile, we have made only tentative One assessment of the Great Reset progress towards protecting the environment www. Again, the change vested interests.
Acasa – Filmul Comoara
Sadly, this is more reactive than proactive. Over the past civilization, remains unchanged, the outcomes decades theym anaged to leave behind the will be the same, The same approach will not common interests of the mega factory outlet btc public and bring new results!
National geographic megafactories - Tesla
Therefore, if we want to be ignore their economic priorities. Trust in the leader, however, is the main ingredient of Human reaction to big changes should embarking on and successfully completing not be underestimated deep change.
Without trust, resistance to change will be huge and, no matter how fair I think it is natural for people to react to the and justified the projects are, they will still be changes that decision-makers hail as unavoi- regarded with maximum suspicion.
The change management theory explains that The important questions get lost in the denial and anger precede enquiry and chase after sensational stories acceptance in how people normally react to change. Moreover, the prospect of - Environmental sustainability aided by having to change at a time marked by high financial incentives and targeted investments.
The real important questions move in directions other than those suggested by the conspiracy proponents. And will these projects be carried out against And the list of these terribly important corporations orwith them? The - What role should governments play? Their bad news is that Romania is also affected. A part during the crisis proved to be crucial, but google search for the Great Reset in Romanian how appropriate is their recipe to socialize the will reveal the predominantly conspiratorial private sector losses and privatize their profits?
Unskilled labor will be the first but unfortunate ideology: whoever criticized the not the only one to fall victim to digitalization communist system was an enemy of the state so how will we keep the social fabric intact?
Along the same line, mega factory outlet btc How can we guarantee gender equality as whoever raises the question of amending the education will be an increasingly dividing capitalist system is labelled a socialist.
How will we manage those unable to communism, the liberal and capitalist world has reinvent themselves so as to cope with an ever- an advantage that communism never had: to changing labor market?
Romania should not walk away from this www. Chaotic development will lead to a dead end for two main reasons. Firstly, the changes that the next decade will bring are conditional on human intelligence, highly skilled, technologically literate labor. We stand no chance if we step into the future with tens of thousands of workers making internal combustion engine parts, or working the land. A word of caution, however, this is a requirement but it will not be enough to cope with the changes.
Firstly, a working changes that are heralded.
It would be a environment that is challenging, comes with mistake to see this any mega factory outlet btc way. The final and exciting projects, prospects of personal ultimate mistake. Secondly, Let us be realistic.
With or without Romania, the road, telecommunication, healthcare these global changes will go ahead and this infrastructure these experts will use in Romania forces us to choose one of the following: make will matter.
The money should be used to this journey being vulnerable and running out of support Romania strengthen three sectors that time. The crux of the matter is that there is no I find critical given the global changes: food, experience in rolling out mega factory outlet btc nationwide meaning agriculture; infrastructure on which a development plan.
The opportunities that investors industries of the future. This is how we ended up with trust in decision-makers. This should be ground significant development and wealth gaps zero for any endeavor to reinvent the country.
The NPL rate stood at 3. Last year, the new loans loans at a sustainable pace injust like granted to companies and households in normal times. In the context of the amounted to 84 billion lei, accounting for pandemic, banks continued accelerating almost one third of the non-government loan www. This can be explained by the short billion lei.
The banking sector has proven tenor of some loans, namely less than one its strength when confronted with endo- year, especially for corporate loans.
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Banks have absorbed the liquidity The non-government loan balance btc markets voucher 2021 problems of their debtors - individuals and ced by 5. Inlenders approved requests to estimates. Bulgaria - Romania also ranks last in the EU in least at the same rate as last year, although terms of bank assets to GDP.
At national level, we are going to ranked 11th and seventh, respectively, in see the adaptation of the legal framework in terms of ROA 1.
The with an upward trend however - on the map first topic involves the use of European of risks to financial stability in Romania, funds, representing a huge opportunity for drawn up by the National Bank of Romania. The banking sector is ding payment obligations on loans granted prepared, both at industry level - through the to the debtors who have had their loans Romanian Association of Banks - and suspended for no more than nine months, in separately - through individual banks - to keeping with mega factory outlet btc European Banking contribute to speeding up the use of Authority regulations, some customers may European funds as well as funds made default on their payment obligations, available via the National Plan for Recovery therefore triggering an increase in NPLs and Resilience.
Romania A second extremely important topic had one of the fastest NPL reduction rates refers to the real digitalization of the eco- among European countries, shrinking six nomy.
The banking sector is one of the most times in five years to reach 3. Across even stronger in some cases.
Business Arena Nr 100 March 2021
If we con- policy efforts for the national objectives to be ducted a profitability analysis, we would find achieved. Mega factory outlet btc brief, that translates into a budget deficit of almost 10 percent of GDP, compared to budget expenditures of about 40 percent of GDP the exact figures are 9.
In brief, that expenditure side.
It's as if a family had its Thus, the economic growth forecast is own income for only nine months the year, and going to allow an upward revision from 4. But beware: which grows and will have to be paid.
This economic growth alone does not mega factory outlet btc reduce situation is clearly unsustainable, and no one the budget deficit if both budget expenditures would be surprised if creditors refused to and revenues grow at the same rate. It can provide any more loans. The solution for the only help if budget revenues grow at a faster government as well as for that hypothetical pace than the nominal economic growth and family would be to increase the incomes and budget expenditures grow at a slower pace decrease expenses, so as to reach a situation than the nominal economic growth.
That's where at most one in twelve lei spent comes exactly what is going to happen in in the from debt i.
Calaméo - Business Arena Nr March
This is how the fiscal- and budget revenues by about 12 percent budgetary adjustment should be read, as it with a nominal GDP increase of around seven represents the responsibility of the Romanian percent.
This is where the good news ends and the The first signs in this regard are very encou- problems begin, which are neither few nor easy raging: to solve. Because these aspects were with non-existent fiscal space and only the not discussed or understood, they were European Commission's decision to suspend abandoned without regrets infor the Stability and Growth Pact allowed Romania, the sake of small individual gains, while the only state under the Excessive Deficit sacrificing the general interest.
Procedure, to avoid sanctions. They will - by fighting tax evasion and the 'black therefore welcome any wage raises, even when economy.
The on wage growth to fuel it ; digitalization of the National Agency for Fiscal - business people have a short time horizon Administration ANAFthe general use of a quarter or a year and their main goal is to electronic cash registers and other similar increase profits.
Therefore, they will enjoy any measures should bring in at least half of that cuts in taxation, even if they may distort the amount 1. But this requires a level of political will - politicians have a medium time horizon an that currently seems to be lacking. Therefore, they will generated by the many exceptions and tax avoid by any means spending political capital by exemptions that have proliferated in the Fiscal promoting unpopular measures, such as Code since It is estimated that all these budgetary consolidation.
But until all social revenues of about 4. We understand budgetary consolidation, from which no one that this is a taboo subject, which the govern- learns anything.
Outlet ca la Parndorf în vestul ţării – Evenimentul Zilei
However, sooner or later, concrete way in which budgetary consolidation such increases will have to be taken into should be achieved under the Fiscal-Budgetary account, whether they will be imposed by the Strategy As illustrated in the table European Commission environmental taxes, below, the full budgetary consolidation of carbon emissions, etc. And it is hard to believe that Indicator wage and pension expenses can be kept tight for four consecutive years, Budget knowing that in the election years revenues and the year is such a year Budget the tendency is to let them increase, expenditures with the purpose of accumulating political capital.
Therefore, at least Budget 2. The government that can do that would - property tax exemption on buildings in kill three birds with one stone: public or private property of the state or of the - it would increase budget revenues by one administrative-territorial units. I have given just a few examples debatable, If we were to analyze it strictly from an of course of legal loopholes that should be economic point of view, the first category legal closed and should be subject to analysis loopholes that meet a clear economic need sooner rather than later.
A 41 billion euro invest- and the Health Insurance ment plan designed to reset the country, a mega factory outlet btc Company on one hand Marshall a plan, as one Romanian politician put it.