Investment in Romania and the EU

Size: px
Start display at page:

Download "Investment in Romania and the EU"

Transcription

1 Investment in Romania and the EU Debora Revoltella Director Economics Department Bucharest June 21, 217 2/6/217 European Investment Bank Group 2

2 Investment dynamics in RO 12 Investment Index 28=1 45 Gross Fixed Capital Formation as % of GDP European Union (28 countries) Romania Source: Eurostat Romania Private Investment EU average (total GFCF) Source: Ameco Romania Public Investment 2/6/217 European Investment Bank Group 3

3 Investment by sector 2 Annual percentage changes; contributions in percentage points, constant prices (21) Q1 213Q2 213Q3 213Q4 214Q1 214Q2 214Q3 214Q4 215Q1 215Q2 215Q3 215Q4 216Q1 216Q2 216Q3 216Q Non-financial corporations General government Total economy Financial corporations Households; non-profit institutions serving households Source: Eurostat 2/6/217 European Investment Bank Group 4

4 Public investment: Quantity and quality counts Higher public spending than peers with low quality of infrastructure Quality of transport infrastructure Quality of air transport infrastructure Quality of port infrastructure Quality of roads Quality of railroad infrastructure Source: IMF (217) /6/217 European Investment Bank Group 5 EU Rating based on survey by the WEF using a scale from 1 (extremely underdeveloped) to 7 (extensive and efficient). EU value is calculated as simple average RO

5 Better EU funds absorption could benefit public investment recovery GFCF - public sector as % of GDP Better Fund absorption could improve potential growth Source: Eurostat / Ameco, European Commission Raising EU funds absorption rate to 95% for the current program period could add one percentage point to potential growth EU-funded investment can raise quality Additional public investment in infrastructure could help to crowd in private investment 2/6/217 European Investment Bank Group 6

6 Billions Potential to (better) use EU funds remains Slow implementation so far under current MFF (214-22) Implementation by fund for Romania (total costs) % of planned) Youth Employment Initiative Planned Decided Paid Planned Decided Paid Planned: Total budget of the programme Decided: Financial resources allocated to selected projects (project pipeline) Paid: Expenditure reported by the selected projects The financial data reporting is expressed in total costs only (i.e. not broken down by the EU or national share). Balance of Member State vis-à-vis the EU budget (net receiver+/payer-) (as % of GDP) European Social Fund European Regional Development Fund European Maritime and Fisheries Fund European Agricultural Fund for Rural Development Cohesion Fund % 5% 1% Planned Decided Paid Source: EU Cohesiondata and ECB 2/6/217 European Investment Bank Group 7

7 EIB Investment Survey (EIBIS) Annual survey commenced Q2 216 Some 12,5 firms surveyed across EU28 (of which 476 in Romania) Includes NFCs with 5+ employees operating in manufacturing, services, construction & infrastructure Representative of the economy (firms weighted by added-value) Provides qualitative and quantitative information on Firm characteristics and performance Investment needs and constraints Past investment activities and future focus Sources of finance 2/6/217 European Investment Bank Group 8

8 Firms expecting to increase/decrease investment in current financial year (net balance,%) The share of Romanian firms investing is rather low but, on balance, these expect to slightly expand 25% Low investment expanding High investment expanding 2% CY ES 15% HR 1% 5% % -5% Man Large RO Serv GR SME BG Infr LV HU PT MT PL IT CZ FR UK EU AT DE SK BE LU NL IE EE SI SE DK FI -1% -15% Constr LT Low investment contracting High investment contracting -2% 55% 6% 65% 7% 75% 8% 85% 9% 95% 1% Share of firms investing 2/6/217 European Investment Bank Group 9

9 EU Romania Manufacturing Construction Services Infrastructure SME Large Firms investment: Mostly tangibles Organisation/business processes Training of employees Software, data, IT, website R&D Machinery and equipment Land, business buildings and infrastructure Large Capacity expansion New products Replacement No investment planned 1% SME 8% Infrastructure 6% Services 4% Construction 2% Manufacturing % Romania EU % 2% 4% 6% 8% 1% Base: All firms who have invested in the last financial year (excluding don t know and refused response) Q. In the last financial year, how much did your business invest in each of the following with the intention of maintaining or increasing your company s future earnings? Base: All firms (excluding don t know/refused responses) Q. Looking ahead to the next 3 years, which of the following is your investment priority (a) replacing existing buildings, machinery, equipment, IT (b) expanding capacity for existing products/services (c) developing or introducing new products, processes, services? 2/6/217 European Investment Bank Group 1

10 Low innovation activity firms mostly adopt Investment in new products, process or services that are new to the company, new to the country or new to the global market? 2/6/217 European Investment Bank Group 11

11 Romania: Larger investment gap than EU average EU Romania 15% 19% Net balance -12 pp pp In percent 5 Lower quality capital stock for firms that invested too little Manufacturing 19% pp 4 Construction Services 19% 14% -15 pp pp 3 Infrastructure 24% pp 2 SME Large 22% 17% % 2% 4% 6% 8% 1% Invested too much Invested too little About the right amount Don't Know/refused pp pp Base: All firms (excluding Company didn t exist three years ago responses) Q. Looking back at your investment over the last 3 years, was it too much, too little, or about the right amount to ensure the success of your business going forward? 1 State of the art equipment Firms that invested too little Energy efficient buildings Firms that invested enough Base: All firms (excl. don t know and refused answers) Q. Looking back at your investment over the last 3 years, was it too much, too little, or about the right amount to ensure the success of your business going forward? Q. What proportion, if any, of your machinery and equipment, including ICT, would you say is state-of-the-art? Q. What proportion, if any, of your commercial building stock satisfies high or highest energy efficiency standards? 2/6/217 European Investment Bank Group 12

12 Differences in (perceived) quality of capital stock Overall quality of capital stock ranked lower In percent State of the Art equipment EU average Highly energy efficient buildings Romania Base: All firms Q. What proportion, if any, of your machinery and equipment, including ICT, would you say is state-of-the-art? Q. What proportion, if any, of your commercial building stock satisfies high or highest energy efficiency standards? Quality of capital stock less of an issue for foreign-owned firms State of the Art equipment Highly energy efficient buildings Domestic firm Foreign owned firm but notably for state-owned companies State of the Art equipment Highly energy efficient buildings Romania privately owned Romania State Owned 2/6/217 European Investment Bank Group 13

13 What are investment impediments? 1 st bar: Romanian firms: Red=Major obstacle, orange=minor obstacle 2 nd bar: EU average for comparison: Dark gray: Major obstacle, light gray: Minor obstacle Long term barriers Uncertainty about the future Availability of finance Adequate transport infrastructure Business regulations Labour market regulations Access to digital infrastructure Energy costs Availability of staff with right skills Demand for products or services % 2% 4% 6% 8% 1% Base: All firms (data not shown for those who said not an obstacle at all/don t know/refused) Q. Thinking about your investment activities in Romania, to what extent is each of the following an obstacle? (Major/minor/not at all) 2/6/217 European Investment Bank Group 14

14 Increasing risks to investment from labour market? Low birthrates & external migration Unemployment (-), wages (++) Moving up the value chain find (and keep) qualified staff Romania Poland Greece Cyprus Basic Digital skills and web use A major or minor investment obstacle SME Large All Accommodation and food service activities Wholesale and retail trade; vehicle repairs Transporting and storage Manufacturing Construction Water supply; sewerage; waste mgmt.; Lithuania Hungary Latvia Slovakia European Union 28 France Belgium Estonia Sweden Labour market regulations % 2% 4% 6% 8% 1% Availability of staff with the right skills Netherlands Luxembourg Base: All firms who have planned to invest in the current financial year. Q. How do each of the following affect your ability to carry out planned investment? (Positively/negatively/no difference) 2a1 Internet Users 2a2 Basic Digital Skills DESI Basic Skills and Usage sub-dimension calculated as the weighted average of the normalised indicators: 2a1 Internet Users (5%), 2a2 Basic Digital Skills (5%) Source: European Commission 2/6/217 European Investment Bank Group 15

15 Problems with financing 2% 15% 1% 5% % Received less Rejected Too expensive Discouraged Base: All firms Finance constrained firms include: those dissatisfied with the amount of finance obtained (received less), firms that sought external finance but did not get it (rejected) and those who did not seek external finance because they thought borrowing costs would be too high (too expensive) or they would be turned down (discouraged). 2/6/217 European Investment Bank Group 16

16 Share of investing firms that are happy to rely excl. on internal funds Access to finance is an issue for some firms 3% 25% 2% 15% 1% Access to Finance among Investing Firms high availability of internal sources; low external barriers LU SE CZ FI EE FR DK BE PL DE AT UK ES SK NL IT LV 2/6/217 European Investment Bank Group 17 SL RO LT IR MT CY BG HR HU High availability of internal sources; high external barriers 5% little availability of little availability of internal sources; low internal sources; high % external barriers external barriers % 2% 4% 6% 8% 1% 12% 14% 16% 18% Share of investing firms that are external finance constrained Base: All investing firms Finance constrained firms include: those that invested which dissatisfied with the amount of finance obtained (received less), firms that sought external finance but did not receive it (rejected) and those who did not seek external finance because they thought borrowing costs would be too high (too expensive) or they would be turned down (discouraged) Firms happy to use internal funds are those that invested using exclusively internal funds and who stated that they did not seek any external finance because they were satisfied with their internal funds. EL PT

17 Financing (constraints) Romanian firms strongly rely on internal sources of financing (71%) Bank loans dominate external financing Firms want more of the same Satisfaction with external Sources of external financing finance 1% 9% 8% 7% 6% 5% Bank loan Other bank finance Bonds Equity Amount obtained Cost of finance Maturity 4% Leasing Collateral 3% 2% 1% % EU RO CESEE Factoring Loans from Family/friends Grants Type of finance % 2% 4% 6% 8% 1% Very satisfied Fairly satisfied Neither Fairly dissatisfied Very dissatisfied Base: All firms who used external finance in the last financial year (excl. don t know/refused responses). Q. Approximately what proportion of your external finance does each of the following represent? Base: All firms who used external finance in the last financial year (excl. don t know/refused responses). Q. How satisfied or dissatisfied are you with? 2/6/217 European Investment Bank Group 18

18 (Weighted) Share of firms Summary findings for Romania Still strong investment need Public sector GFCF EU funds Project preparation and absorption of structural funds Corporate investment outlook remains moderate Issues with quality of capital and differences between foreign and domestic firms Business environment with constraints Transport infrastructure Skills Access to finance an issue for some firms Very small fraction of Romanian firms compare to EU best performers Distribution of firms by productivity class 1st EU Quintile 2nd EU Quintile 3rd EU Quintile 4th EU Quintile 5th EU Quintile 2/6/217 European Investment Bank Group 19

19 Thank you! 2/6/217 European Investment Bank Group 2

20 EIB Investment Research 2/6/217 European Investment Bank Group 21

Investment in Ireland and the EU

Investment in Ireland and the EU Investment in and the EU Debora Revoltella Director Economics Department Dublin April 10, 2017 20/04/2017 1 Real investment: IE v EU country groupings Real investment (2008 = 100) 180 160 140 120 100 80

More information

Investment and Investment Finance in Slovenia

Investment and Investment Finance in Slovenia Investment and Investment Finance in Slovenia Debora Revoltella Chief Economist European Investment Bank Bank of Slovenia, European Investment Bank, European Commission Conference Ljubljana November 16,

More information

Investment in Germany and the EU

Investment in Germany and the EU Investment in Germany and the EU Pedro de Lima Head of the Economics Studies Division Economics Department Berlin 19/12/2016 11/01/2017 1 Slow recovery of investment, with strong heterogeneity Overall

More information

Investment in France and the EU

Investment in France and the EU Investment in and the EU Natacha Valla March 2017 22/02/2017 1 Change relative to 2008Q1 % of GDP Slow recovery of investment, and with strong heterogeneity Overall Europe s recovery in investment is slow,

More information

Investment and Investment Finance. the EU and the Polish story. Debora Revoltella

Investment and Investment Finance. the EU and the Polish story. Debora Revoltella Investment and Investment Finance the EU and the Polish story Debora Revoltella Director - Economics Department EIB Warsaw 27 February 2017 Narodowy Bank Polski European Investment Bank Contents We look

More information

Investment and Investment Finance open questions?

Investment and Investment Finance open questions? Investment and Investment Finance open questions? COMPNET 13 th ANNUAL CONFERENCE CHIEF ECONOMISTS PANEL 29 June 2017 Debora Revoltella Economics Department European Investment Bank Key issues Questions

More information

BUSINESS INVESTMENT AND INVESTMENT FINANCE IN MALTA EVIDENCE FROM THE EIBIS 2017 SURVEY

BUSINESS INVESTMENT AND INVESTMENT FINANCE IN MALTA EVIDENCE FROM THE EIBIS 2017 SURVEY BUSINESS INVESTMENT AND INVESTMENT FINANCE IN MALTA EVIDENCE FROM THE EIBIS 217 SURVEY Article published in the Quarterly Review 218:1, pp. 3-36 BOX 2: BUSINESS INVESTMENT AND INVESTMENT FINANCE IN MALTA

More information

Identifying factors that support and hinder the scaling up of promising new ventures

Identifying factors that support and hinder the scaling up of promising new ventures Identifying factors that support and hinder the scaling up of promising new ventures Debora Revoltella Director Economics Department European Investment Bank ECB MIT Joint Conference Fostering Innovation

More information

Growth, competitiveness and jobs: priorities for the European Semester 2013 Presentation of J.M. Barroso,

Growth, competitiveness and jobs: priorities for the European Semester 2013 Presentation of J.M. Barroso, Growth, competitiveness and jobs: priorities for the European Semester 213 Presentation of J.M. Barroso, President of the European Commission, to the European Council of 14-1 March 213 Economic recovery

More information

From Recovery to Sustainable Growth"

From Recovery to Sustainable Growth From Recovery to Sustainable Growth" 2017-2018 EIB Investment Report Debora Revoltella OECD 25 January 2018 European Investment Bank Group 2017-2018 EIB Investment Report: Key messages Investment recovery,

More information

October 2010 Euro area unemployment rate at 10.1% EU27 at 9.6%

October 2010 Euro area unemployment rate at 10.1% EU27 at 9.6% STAT//180 30 November 20 October 20 Euro area unemployment rate at.1% EU27 at 9.6% The euro area 1 (EA16) seasonally-adjusted 2 unemployment rate 3 was.1% in October 20, compared with.0% in September 4.

More information

January 2010 Euro area unemployment rate at 9.9% EU27 at 9.5%

January 2010 Euro area unemployment rate at 9.9% EU27 at 9.5% STAT//29 1 March 20 January 20 Euro area unemployment rate at 9.9% EU27 at 9.5% The euro area 1 (EA16) seasonally-adjusted 2 unemployment rate 3 was 9.9% in January 20, the same as in December 2009 4.

More information

HOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS

HOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS REPUBLIC OF SLOVENIA HOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS Matej Divjak, Irena Svetin, Darjan Petek, Miran Žavbi, Nuška Brnot ??? What is recession?? Why in Europe???? Why in Slovenia?

More information

EIB s views on prospects for private sector development in Romania with a focus on the warehouse infrastructure

EIB s views on prospects for private sector development in Romania with a focus on the warehouse infrastructure EIB s views on prospects for private sector development in Romania with a focus on the warehouse infrastructure L. Tassan Zanin (EIB Resident Representative in Romania), R. Pal (Economist, Economics Department),

More information

INTANGIBLE INVESTMENT AND INNOVATION IN THE EU: FIRM- LEVEL EVIDENCE FROM THE 2017 EIB INVESTMENT SURVEY 49

INTANGIBLE INVESTMENT AND INNOVATION IN THE EU: FIRM- LEVEL EVIDENCE FROM THE 2017 EIB INVESTMENT SURVEY 49 CHAPTER II.6 INTANGIBLE INVESTMENT AND INNOVATION IN THE EU: FIRM- LEVEL EVIDENCE FROM THE 2017 EIB INVESTMENT SURVEY 49 Debora Revoltella and Christoph Weiss European Investment Bank, Economics Department

More information

DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions

DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions DIRECTORATE GENERAL STATISTICS LAST UPDATE: 10 APRIL 2013 DIVISION MONETARY & FINANCIAL STATISTICS ECB-UNRESTRICTED DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions The series keys related to Investment

More information

Macroeconomic Policies in Europe: Quo Vadis A Comment

Macroeconomic Policies in Europe: Quo Vadis A Comment Macroeconomic Policies in Europe: Quo Vadis A Comment February 12, 2016 Helene Schuberth Outline Staff Projection of the Euro Area Monetary Policy Investment Rebalancing in the euro area Fiscal Policy

More information

EIBIS Luxembourg. Country Overview

EIBIS Luxembourg. Country Overview EIBIS 2016 2014 EIB Group Survey on Investment and Investment Finance 2016 Country Overview Finance Country Overview: European Investment Bank (EIB), 2016. All rights reserved. About the EIB Investment

More information

Eurofound in-house paper: Part-time work in Europe Companies and workers perspective

Eurofound in-house paper: Part-time work in Europe Companies and workers perspective Eurofound in-house paper: Part-time work in Europe Companies and workers perspective Presented by: Eszter Sandor Research Officer, Surveys and Trends 26/03/2010 1 Objectives Examine the patterns of part-time

More information

EIBIS 2016 Ireland. Country Overview

EIBIS 2016 Ireland. Country Overview EIBIS 2016 2014 EIB Group Survey on Investment and Investment Finance 2016 Country Overview Finance Country Overview: European Investment Bank (EIB), 2016. All rights reserved. About the EIB Investment

More information

Social Protection and Social Inclusion in Europe Key facts and figures

Social Protection and Social Inclusion in Europe Key facts and figures MEMO/08/625 Brussels, 16 October 2008 Social Protection and Social Inclusion in Europe Key facts and figures What is the report and what are the main highlights? The European Commission today published

More information

Fiscal sustainability challenges in Romania

Fiscal sustainability challenges in Romania Preliminary Draft For discussion only Fiscal sustainability challenges in Romania Bucharest, May 10, 2011 Ionut Dumitru Anca Paliu Agenda 1. Main fiscal sustainability challenges 2. Tax collection issues

More information

NOTE ON EU27 CHILD POVERTY RATES

NOTE ON EU27 CHILD POVERTY RATES NOTE ON EU7 CHILD POVERTY RATES Research note prepared for Child Poverty Action Group Authors: H. Xavier Jara and Chrysa Leventi Institute for Social and Economic Research (ISER) University of Essex The

More information

COMMISSION STAFF WORKING DOCUMENT Accompanying the document

COMMISSION STAFF WORKING DOCUMENT Accompanying the document EUROPEAN COMMISSION Brussels, 9.10.2017 SWD(2017) 330 final PART 13/13 COMMISSION STAFF WORKING DOCUMENT Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE

More information

The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis

The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis Paper presented at the Workshop on Medium-term forecast of occupational

More information

Themes Income and wages in Europe Wages, productivity and the wage share Working poverty and minimum wage The gender pay gap

Themes Income and wages in Europe Wages, productivity and the wage share Working poverty and minimum wage The gender pay gap 5. W A G E D E V E L O P M E N T S At the ETUC Congress in Seville in 27, wage developments in Europe were among the most debated issues. One of the key problems highlighted in this respect was the need

More information

Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000

Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000 DG TAXUD STAT/09/92 22 June 2009 Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000 The overall tax-to-gdp

More information

State of play of CAP measure Setting up of Young Farmers in the European Union

State of play of CAP measure Setting up of Young Farmers in the European Union State of play of CAP measure Setting up of Young Farmers in the European Union Michael Gregory EN RD Contact Point Seminar CEJA 20 th September 2010 Measure 112 rationale: Measure 112 - Setting up of young

More information

Issues Paper. 29 February 2012

Issues Paper. 29 February 2012 29 February 212 Issues Paper In the context of the European semester, the March European Council gives, on the basis of the Commission's Annual Growth Survey, guidance to Member States for the Stability

More information

Flash Eurobarometer 441. Report. European SMEs and the Circular Economy

Flash Eurobarometer 441. Report. European SMEs and the Circular Economy European SMEs and the Circular Economy Survey requested by the European Commission, Directorate-General Environment and co-ordinated by the Directorate-General for Communication This document does not

More information

Portugal. Overview EIB INVESTMENT SURVEY

Portugal. Overview EIB INVESTMENT SURVEY Portugal Overview EIB INVESTMENT SURVEY Finance Country Overview: Portugal European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide,

More information

Fiscal competitiveness issues in Romania

Fiscal competitiveness issues in Romania Fiscal competitiveness issues in Romania Ionut Dumitru President of the Fiscal Council, Chief Economist Raiffeisen Bank* October 2014 World Bank Doing Business Report Ranking (out of 189 countries) Ease

More information

Two years to go to the 2014 European elections European Parliament Eurobarometer (EB/EP 77.4)

Two years to go to the 2014 European elections European Parliament Eurobarometer (EB/EP 77.4) Directorate-General for Communication PUBLIC OPINION MONITORING UNIT Brussels, 23 October 2012. Two years to go to the 2014 European elections European Parliament Eurobarometer (EB/EP 77.4) FOCUS ON THE

More information

December 2010 Euro area annual inflation up to 2.2% EU up to 2.6%

December 2010 Euro area annual inflation up to 2.2% EU up to 2.6% STAT/11/9 14 January 2011 December 2010 Euro area annual inflation up to 2.2% EU up to 2.6% Euro area 1 annual inflation was 2.2% in December 2010 2, up from 1.9% in November. A year earlier the rate was

More information

Finland. Overview EIB INVESTMENT SURVEY

Finland. Overview EIB INVESTMENT SURVEY Finland Overview EIB INVESTMENT SURVEY Finance Country Overview: Finland European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide,

More information

Austria. Overview EIB INVESTMENT SURVEY

Austria. Overview EIB INVESTMENT SURVEY Austria Overview EIB INVESTMENT SURVEY Finance Country Overview: Austria European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide,

More information

EBA REPORT ON HIGH EARNERS

EBA REPORT ON HIGH EARNERS EBA REPORT ON HIGH EARNERS DATA AS OF END 2017 LONDON - 11/03/2019 1 Data on high earners List of figures 3 Executive summary 4 1. Data on high earners 6 1.1 Background 6 1.2 Data collected on high earners

More information

European Union. Overview EIB INVESTMENT SURVEY

European Union. Overview EIB INVESTMENT SURVEY European Union Overview EIB INVESTMENT SURVEY Finance: EU overview European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide, annual

More information

Germany. Overview EIB INVESTMENT SURVEY

Germany. Overview EIB INVESTMENT SURVEY Germany Overview EIB INVESTMENT SURVEY Finance Country Overview: Germany European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide,

More information

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING PROGRESS TOWARDS THE LISBON OBJECTIVES IN EDUCATION AND TRAINING In 7, reaching the benchmarks for continues to pose a serious challenge for education and training systems in Europe, except for the goal

More information

May 2009 Euro area annual inflation down to 0.0% EU down to 0.7%

May 2009 Euro area annual inflation down to 0.0% EU down to 0.7% STAT/09/88 16 June 2009 May 2009 Euro area annual inflation down to 0.0% EU down to 0.7% Euro area 1 annual inflation was 0.0% in May 2009 2, down from 0.6% in April. A year earlier the rate was 3.7%.

More information

THE 2015 EU JUSTICE SCOREBOARD

THE 2015 EU JUSTICE SCOREBOARD THE 215 EU JUSTICE SCOREBOARD Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions

More information

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING

PROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING PROGRESS TOWARDS THE LISBON OBJECTIVES IN EDUCATION AND TRAINING In, reaching the benchmarks for continues to pose a serious challenge for education and training systems in Europe, except for the goal

More information

Gender pension gap economic perspective

Gender pension gap economic perspective Gender pension gap economic perspective Agnieszka Chłoń-Domińczak Institute of Statistics and Demography SGH Part of this research was supported by European Commission 7th Framework Programme project "Employment

More information

EUROPE S SOURCES OF GROWTH

EUROPE S SOURCES OF GROWTH EUROPE S SOURCES OF GROWTH Presentation of J.M. Barroso, President of the European Commission, to the European Council of 23 October 2011 A roadmap to stability and growth 1. Give a decisive response to

More information

COMMISSION STAFF WORKING DOCUMENT Accompanying the document. Report form the Commission to the Council and the European Parliament

COMMISSION STAFF WORKING DOCUMENT Accompanying the document. Report form the Commission to the Council and the European Parliament EUROPEAN COMMISSION Brussels, 4.5.2018 SWD(2018) 246 final PART 5/9 COMMISSION STAFF WORKING DOCUMENT Accompanying the document Report form the Commission to the Council and the European Parliament on

More information

Flash Eurobarometer 398 WORKING CONDITIONS REPORT

Flash Eurobarometer 398 WORKING CONDITIONS REPORT Flash Eurobarometer WORKING CONDITIONS REPORT Fieldwork: April 2014 Publication: April 2014 This survey has been requested by the European Commission, Directorate-General for Employment, Social Affairs

More information

LEADER implementation update Leader/CLLD subgroup meeting Brussels, 21 April 2015

LEADER implementation update Leader/CLLD subgroup meeting Brussels, 21 April 2015 LEADER 2007-2013 implementation update Leader/CLLD subgroup meeting Brussels, 21 April 2015 #LeaderCLLD 2,416 2,416 8.9 Progress on LAG selection in the EU (2007-2013) 3 000 2 500 2 000 2 182 2 239 2 287

More information

COMMISSION DECISION of 23 April 2012 on the second set of common safety targets as regards the rail system (notified under document C(2012) 2084)

COMMISSION DECISION of 23 April 2012 on the second set of common safety targets as regards the rail system (notified under document C(2012) 2084) 27.4.2012 Official Journal of the European Union L 115/27 COMMISSION DECISION of 23 April 2012 on the second set of common safety targets as regards the rail system (notified under document C(2012) 2084)

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of BE researchers funded by MSCA: EU budget awarded to BE organisations (EUR million): Number of BE organisations in MSCA: 274 161,04 227 In detail, the number

More information

For further information, please see online or contact

For further information, please see   online or contact For further information, please see http://ec.europa.eu/research/sme-techweb online or contact Lieve.VanWoensel@ec.europa.eu Seventh Progress Report on SMEs participation in the 7 th R&D Framework Programme

More information

Ireland. Overview EIB INVESTMENT SURVEY

Ireland. Overview EIB INVESTMENT SURVEY Ireland Overview EIB INVESTMENT SURVEY Finance Country Overview: Ireland European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide,

More information

Standard Eurobarometer

Standard Eurobarometer Standard Eurobarometer 67 / Spring 2007 Standard Eurobarometer European Commission SPECIAL EUROBAROMETER EUROPEANS KNOWELEDGE ON ECONOMICAL INDICATORS 1 1 This preliminary analysis is done by Antonis PAPACOSTAS

More information

May 2009 Euro area external trade surplus 1.9 bn euro 6.8 bn euro deficit for EU27

May 2009 Euro area external trade surplus 1.9 bn euro 6.8 bn euro deficit for EU27 STAT/09/106 17 July 2009 May 2009 Euro area external trade surplus 1.9 6.8 deficit for EU27 The first estimate for the euro area 1 (EA16) trade balance with the rest of the world in May 2009 gave a 1.9

More information

COVER NOTE The Employment Committee Permanent Representatives Committee (Part I) / Council EPSCO Employment Performance Monitor - Endorsement

COVER NOTE The Employment Committee Permanent Representatives Committee (Part I) / Council EPSCO Employment Performance Monitor - Endorsement COUNCIL OF THE EUROPEAN UNION Brussels, 15 June 2011 10666/1/11 REV 1 SOC 442 ECOFIN 288 EDUC 107 COVER NOTE from: to: Subject: The Employment Committee Permanent Representatives Committee (Part I) / Council

More information

EU Budget 2009: billion. implemented. 4. The European Union as a global player; ; 6.95% 5. Administration ; 6.

EU Budget 2009: billion. implemented. 4. The European Union as a global player; ; 6.95% 5. Administration ; 6. 20.09.2010 EU Budget 2009: 112.107 billion 4. The European Union as a global player; 7 788 ; 6.95% 3. Citizenship, freedom, security and justice; 1 930 ; 1.72% 2. Preservation and management of natural

More information

Investment and competitivenss" Boris Vujčić, guverner

Investment and competitivenss Boris Vujčić, guverner Investment and competitivenss" Boris Vujčić, guverner e-mail: boris.vujcic@hnb.hr Outline Capital investment and FDI developments in Croatia and peer countries Structural position of Croatia Why are some

More information

August 2008 Euro area external trade deficit 9.3 bn euro 27.2 bn euro deficit for EU27

August 2008 Euro area external trade deficit 9.3 bn euro 27.2 bn euro deficit for EU27 STAT/08/143 17 October 2008 August 2008 Euro area external trade deficit 9.3 27.2 deficit for EU27 The first estimate for the euro area 1 (EA15) trade balance with the rest of the world in August 2008

More information

The Eurostars Programme

The Eurostars Programme The Eurostars Programme The EU-EUREKA joint funding programme for R&D-performing SMEs What is EUREKA? > 2 > EUREKA is a public network supporting R&D-performing businesses > Established in 1985 by French

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of IE researchers funded by MSCA: EU budget awarded to IE organisations (EUR million): Number of IE organisations in MSCA: 253 116,04 116 In detail, the number

More information

REGIONAL PROGRESS OF THE LISBON STRATEGY OBJECTIVES IN THE EUROPEAN REGION EGRI, ZOLTÁN TÁNCZOS, TAMÁS

REGIONAL PROGRESS OF THE LISBON STRATEGY OBJECTIVES IN THE EUROPEAN REGION EGRI, ZOLTÁN TÁNCZOS, TAMÁS REGIONAL PROGRESS OF THE LISBON STRATEGY OBJECTIVES IN THE EUROPEAN REGION EGRI, ZOLTÁN TÁNCZOS, TAMÁS Key words: Lisbon strategy, mobility factor, education-employment factor, human resourches. CONCLUSIONS

More information

How much does it cost to make a payment?

How much does it cost to make a payment? How much does it cost to make a payment? Heiko Schmiedel European Central Bank Directorate General Payments & Market Infrastructure, Market Integration Division World Bank Global Payments Week 23 October

More information

FIRST REPORT COSTS AND PAST PERFORMANCE

FIRST REPORT COSTS AND PAST PERFORMANCE FIRST REPORT COSTS AND PAST PERFORMANCE DECEMBER 2018 https://eiopa.europa.eu/ PDF ISBN 978-92-9473-131-9 ISSN 2599-8862 doi: 10.2854/480813 EI-AM-18-001-EN-N EIOPA, 2018 Reproduction is authorised provided

More information

Overview of Eurofound surveys

Overview of Eurofound surveys Overview of Eurofound surveys Dublin 21 st October 2010 Maija Lyly-Yrjänäinen Eurofound data European Working Conditions Survey 91, 95, 00, 05, 10 European Quality of Life Survey 03, 07, 09, 10 (EB), 11

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of NL researchers funded by MSCA: EU budget awarded to NL organisations (EUR million): Number of NL organisations in MSCA: 427 268.91 351 In detail, the number

More information

Special Eurobarometer 418 SOCIAL CLIMATE REPORT

Special Eurobarometer 418 SOCIAL CLIMATE REPORT Special Eurobarometer 418 SOCIAL CLIMATE REPORT Fieldwork: June 2014 Publication: November 2014 This survey has been requested by the European Commission, Directorate-General for Employment, Social Affairs

More information

Flash Eurobarometer 470. Report. Work-life balance

Flash Eurobarometer 470. Report. Work-life balance Work-life balance Survey requested by the European Commission, Directorate-General for Justice and Consumers and co-ordinated by the Directorate-General for Communication This document does not represent

More information

Country Health Profiles

Country Health Profiles State of Health in the EU Country Health Profiles Brussels, November 2017 1 The Country Health Profiles 1. Highlights 2. Health status 3. Risk Factors 4. Health System (description) 5. Performance of Health

More information

January 2009 Euro area external trade deficit 10.5 bn euro 26.3 bn euro deficit for EU27

January 2009 Euro area external trade deficit 10.5 bn euro 26.3 bn euro deficit for EU27 STAT/09/40 23 March 2009 January 2009 Euro area external trade deficit 10.5 26.3 deficit for EU27 The first estimate for the euro area 1 (EA16) trade balance with the rest of the world in January 2009

More information

COUNCIL OF THE EUROPEAN UNION. Brussels, 13 June /1/13 REV 1 SOC 409 ECOFIN 444 EDUC 190

COUNCIL OF THE EUROPEAN UNION. Brussels, 13 June /1/13 REV 1 SOC 409 ECOFIN 444 EDUC 190 COUNCIL OF THE EUROPEAN UNION Brussels, 13 June 2013 10373/1/13 REV 1 SOC 409 ECOFIN 444 EDUC 190 COVER NOTE from: to: Subject: The Employment Committee Permanent Representatives Committee (Part I) / Council

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of FR researchers funded by MSCA: EU budget awarded to FR organisations (EUR million): Number of FR organisations in MSCA: 1 072 311.72 479 In detail, the

More information

The EFTA Statistical Office: EEA - the figures and their use

The EFTA Statistical Office: EEA - the figures and their use The EFTA Statistical Office: EEA - the figures and their use EEA Seminar Brussels, 13 September 2012 1 Statistics Comparable, impartial and reliable statistical data are a prerequisite for a democratic

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of FI researchers funded by MSCA: EU budget awarded to FI organisations (EUR million): Number of FI organisations in MSCA: 155 47.93 89 In detail, the number

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of PT researchers funded by MSCA: EU budget awarded to PT organisations (EUR million): Number of PT organisations in MSCA: 716 66,67 165 In detail, the number

More information

ANNEX. Graph 4 GDP per capita (PPS) in 1995 and average annual growth

ANNEX. Graph 4 GDP per capita (PPS) in 1995 and average annual growth ANNEX LIST OF GRAPHS Graph 1 Graph 2 Graph 3 GDP growth 1995-23 productivity and employment Regional disparities within Member States (Ratio between GDP share of wealthiest and least wealthy 2% of regional

More information

Reform strategies: the experience of emerging European economies and their effects on sustainability and equity

Reform strategies: the experience of emerging European economies and their effects on sustainability and equity Cross-country experiences Session 3 Reform strategies: the experience of emerging European economies and their effects on sustainability and equity Per Eckefeldt European Commission Directorate General

More information

ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008

ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008 www.efesonline.org 25.2.29 ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 28 INTRODUCTION TO COUNTRY FILES Employee ownership is progressing faster and stronger across Europe than

More information

Securing sustainable and adequate social protection in the EU

Securing sustainable and adequate social protection in the EU Securing sustainable and adequate social protection in the EU Session on Social Protection & Security IFA 12th Global Conference on Ageing 11 June 2014, HICC Hyderabad India Dr Lieve Fransen European Commission

More information

European Commission. Statistical Annex of Alert Mechanism Report 2017

European Commission. Statistical Annex of Alert Mechanism Report 2017 European Commission Statistical Annex of Alert Mechanism Report 2017 COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT,

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of SE researchers funded by MSCA: EU budget awarded to SE organisations (EUR million): Number of SE organisations in MSCA: 138 114.71 150 In detail, the number

More information

Harmonised Index of Consumer Prices (HICP) August 2015

Harmonised Index of Consumer Prices (HICP) August 2015 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 MONTENEGRO STATISTICAL OFFICE R E L E A S E Broj: 201 Podgorica, 18 September 2015 When using the data please name the source

More information

Facilitating youth access to finance: Opportunities provided by financial instruments. Dr Nivelin NOEV EC / DG AGRI F.3

Facilitating youth access to finance: Opportunities provided by financial instruments. Dr Nivelin NOEV EC / DG AGRI F.3 Facilitating youth access to finance: Opportunities provided by financial instruments Dr Nivelin NOEV EC / DG AGRI F.3 ENRD workshop, 10/12/2018 Brussels DG AGRI analytical base on FIs: fi-compass EAFRD

More information

STAT/14/ October 2014

STAT/14/ October 2014 STAT/14/158-21 October 2014 Provision of deficit and debt data for 2013 - second notification Euro area and EU28 government deficit at 2.9% and 3.2% of GDP respectively Government debt at 90.9% and 85.4%

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of LV researchers funded by MSCA: EU budget awarded to LV organisations (EUR million): Number of LV organisations in MSCA: 35 3.91 11 In detail, the number

More information

H Marie Sklodowska-Curie Actions (MSCA)

H Marie Sklodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of FR researchers funded by MSCA: EU budget awarded to FR organisations (EUR million): Number of FR organisations in MSCA: 565 198.92 370 In detail, the number

More information

The Trend Reversal of the Private Credit Market in the EU

The Trend Reversal of the Private Credit Market in the EU The Trend Reversal of the Private Credit Market in the EU Key Findings of the ECRI Statistical Package 2016 Roberto Musmeci*, September 2016 The ECRI Statistical Package 2016, Lending to Households and

More information

ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008

ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008 www.efesonline.org 25.2.29 ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 28 INTRODUCTION TO COUNTRY FILES Employee ownership is progressing faster and stronger across Europe than

More information

Greece. Overview EIB INVESTMENT SURVEY

Greece. Overview EIB INVESTMENT SURVEY Greece Overview EIB INVESTMENT SURVEY Finance Country Overview: Greece European Investment Bank (EIB), 2017. All rights reserved. About the EIB Investment Survey (EIBIS) The Finance is a unique, EU-wide,

More information

Report on the distribution of direct payments to agricultural producers (financial year 2016)

Report on the distribution of direct payments to agricultural producers (financial year 2016) Report on the distribution of direct payments to agricultural producers (financial year 2016) Every year, the Commission publishes the distribution of direct payments to farmers by Member State. Figures

More information

2 ENERGY EFFICIENCY 2030 targets: time for action

2 ENERGY EFFICIENCY 2030 targets: time for action ENERGY EFFICIENCY 2030 targets: time for action The Coalition for Energy Savings The Coalition for Energy Savings strives to make energy efficiency and savings the first consideration of energy policies

More information

Aleksandra Dyba University of Economics in Krakow

Aleksandra Dyba University of Economics in Krakow 61 Aleksandra Dyba University of Economics in Krakow dyba@uek.krakow.pl Abstract Purpose development is nowadays a crucial global challenge. The European aims at building a competitive economy, however,

More information

EUROPEAN COMMISSION EUROSTAT

EUROPEAN COMMISSION EUROSTAT EUROPEAN COMMISSION EUROSTAT Directorate F: Social statistics Unit F-3: Labour market Doc.: Eurostat/F3/LAMAS/29/14 WORKING GROUP LABOUR MARKET STATISTICS Document for item 3.2.1 of the agenda LCS 2012

More information

Traffic Safety Basic Facts Main Figures. Traffic Safety Basic Facts Traffic Safety. Motorways Basic Facts 2015.

Traffic Safety Basic Facts Main Figures. Traffic Safety Basic Facts Traffic Safety. Motorways Basic Facts 2015. Traffic Safety Basic Facts 2013 - Main Figures Traffic Safety Basic Facts 2015 Traffic Safety Motorways Basic Facts 2015 Motorways General Almost 30.000 people were killed in road accidents on motorways

More information

H Marie Skłodowska-Curie Actions (MSCA)

H Marie Skłodowska-Curie Actions (MSCA) H2020 Key facts and figures (2014-2020) Number of AT researchers funded by MSCA: EU budget awarded to AT organisations (EUR million): Number of AT organisations in MSCA: 215 78.57 140 In detail, the number

More information

52 ECB. The 2015 Ageing Report: how costly will ageing in Europe be?

52 ECB. The 2015 Ageing Report: how costly will ageing in Europe be? Box 7 The 5 Ageing Report: how costly will ageing in Europe be? Europe is facing a demographic challenge. The old age dependency ratio, i.e. the share of people aged 65 or over relative to the working

More information

Energy Services Market in the EU: NEEAP and EED Implementation Paolo Bertoldi and Benigna Kiss

Energy Services Market in the EU: NEEAP and EED Implementation Paolo Bertoldi and Benigna Kiss Energy Services Market in the EU: NEEAP and EED Implementation Paolo Bertoldi and Benigna Kiss European Commission DG JRC Institute for Energy and Transport 1 Introduction The JRC regularly publishes information

More information

The challenges of an ageing population. Budgetary and labour force projections for Belgium and the EU Member States

The challenges of an ageing population. Budgetary and labour force projections for Belgium and the EU Member States The challenges of an ageing population Budgetary and labour force projections for Belgium and the EU Member States Alexander Schwan, European Commission WSE Arbeidsmarktcongres 2013 07.02.2013 Provinciehuis

More information

Croatian Science and Technology System

Croatian Science and Technology System Croatian Science and Technology System Tome Antičić, Ph.D. Ministry of Science and Education 1 Strategic documents In 2014 the Croatian parliament adopted the Strategy of Education, Science and Technology

More information

PUBLIC PERCEPTIONS OF VAT

PUBLIC PERCEPTIONS OF VAT Special Eurobarometer 424 PUBLIC PERCEPTIONS OF VAT REPORT Fieldwork: October 2014 Publication: March 2015 This survey has been requested by the European Commission, Directorate-General for Taxations and

More information

The Mystery of Low Productivity Growth: Some Insights from Belgium

The Mystery of Low Productivity Growth: Some Insights from Belgium The Mystery of Low Productivity Growth: Some Insights from Belgium Bank of Poland - 26 October 218 Luc Dresse (luc.dresse@nbb.be) Chief Advisor Economics and Research Dept. LU BE US NL DK DE FR SE EU15

More information