Consumer Credit in RON in Romania Exceeds 10 Bln Euros

Consumer credits taken out by the Romanian population in RON went up to a level equivalent to 10.3 billion euros, a 36% increase on July last year, according to data from the NBR (National Bank of Romania), Ziarul Financiar reported.While overall there is a slowdown in the credit growth rate, consumer loans taken out by the population in RON jumped significantly in July. In fact, the 3.4% growth rate in July was the most accelerated rate this year, followed by the April rate, of 2.5%.The annualized growth was also above the one calculated in the previous month, but lower than in the first few months of the year. However, all the other categories of credit saw a slowdown. Data points to a slowdown in lending, and a significant slowdown is expected over the next few months.This is primarily due to the base effect, the volume of credits granted by banks is much higher than last year. From a 56% credit growth rate, I expect we will reach 40% by the end of the year, said Ionut Dumitru, head of Raiffeisen Bank's research department.Source: Profit.bg

New ferry connects Bulgaria and Romania over Danube

The new ferry complex connecting the Bulgarian port of Nikopol and the Romanian port of Turnu Magurele over the Danube River will opened in mid July, 2008.The news was announced by Bulgaria's Deputy Minister of Transport Dimcho Mihalevski during his visit to the northern Bulgarian town of Nikopol.The ferry complex has been constructed already but some additional safety guarantees are being completed at the moment.About EUR 6,5 M have been invested in the ferry, EUR 2,5 M of which have been provided by the Bulgarian government, whereas the rest is EU funding under the PHARE Program.The Bulgarian side of the ferry complex will be operated by the Bulgarian River Shipping company.The Deputy Minister of Transport Mihalevski said in Nikopol that the new ferry would have a great economic impact as part of the country's policy to tackle the marginalizing of its border regions by opening up its borders.Mihalevsky reminded that another ferry line between the city of Silistra and the Romanian town of Caluras had been opened recently, and said that two more border checkpoints would be opened on the Bulgarian-Greek border by the middle of 2009.The Bulgarian platform of the new ferry can carry 12 trucks, and crosses the river in only eight minutes. Yet, the fees for using it have not been set because the ownership issue has not been settled.The rehabilitation of the 45-km road connecting Nikopol and the district center, the city of Pleven, is going as planned.

Romania Ready to Remove Danube Bridge Tolls

Bulgarian European Affairs Minister Gergana Gruncharova described the readiness shown by Romania to remove the tolls charged for crossing the Danube Bridge at Rousse-Giurgiu (North Central Bulgaria-South Central Romania) as "a very encouraging signal." Gruncharova was reacting to a statement made by State Secretary Adrian Ciocanea, Head of the Romanian Government's Department for European Integration. The bridge toll topped the agenda of Gruncharova's recent meeting with Romania's Secretary of State for European Affairs Raduta Matache, BTA reported. "I am happy with the Romanin side's prompt reaction; this matter has been pursued by the Simeon II National Movement party for six years," Gruncharova said, adding that "this is not a transportation matter, rather, the easing of free movement for persons is a European question: the interior of the EU must unite people. The bridge is currently the only one between the two countries and the tolls are illogical. The fewer bridges there are, the easier the means of travelling over them must be." Another bridge, at Vidin-Calafat (Northwestern Bulgaria-Southwestern Romania), is under construction, and a third one, at Silistra-Calarasi (Northeastern Bulgaria-Southeastern Romania), is on the drawing board.