The country will switch currencies by January 2019, officials said. Also in business news: A World Bank loan to Croatia will help improve the health care sector.
Romania plans to join the eurozone in 2019. [AFP]
Romania plans to join the eurozone by January 1st 2019, Budget Minister Liviu Voinea said. Central Bank Governor Mugur Isarescu said the country will meet the nominal convergence criteria for the currency switch this month.
More than 200 businessmen from Turkey and Serbia gathered at a business forum in Belgrade to discuss opportunities for co-operation and mutual investment. The fifth edition of the forum, organised by the Serbia International Trade Association and the Belgrade Chamber of Commerce, highlighted opportunities in the textile, food and construction industries.
The Greek parliament approved the country's 2015-2018 budget as part of the government's commitments under its international bailout package. The plan envisions the country registering a stable economic growth of 0.6 percent this year and 2.9 percent in 2015. Unemployment, which is currently 27 percent, is expected to drop below 20 percent in 2016.
The World Bank approved a 75 million euro loan to Croatia aimed at improving the quality of healthcare and the efficiency of local health services. The loan has a 20-year maturity, including a four-year grace period.
The EU will allocate 1 billion euros to western Balkan countries in the form of IPA funds by 2020, according to Serbia Deputy Prime Minister Ivica Dacic. Another 10 billion euros will be invested in regional projects, Dacic said at a meeting with his Greek counterpart Evangelos Venizelos in Athens.
German company Bosch opened its second automotive technology manufacturing plant in Romania. The facility in Cluj will produce electronic components and control units for the European market, and is expected to create 750 jobs.
The European Investment Bank approved another loan of 200 million euros to Turkey for the Marmaray project, the first railway connection between the European and Asian sections of Istanbul across the Bosphorus Strait. With the additional financing, the bank's total support for Marmaray now amounts to 1.25 billion euros.
(Various sources -- 07/05/14-14/05/14)