Deltaria

[Rogue]

CAHTICA - The Imperial Reserve Bank, Deltaria's central bank, has lowered interest rates in a effort to encourage more spending and greater economic growth. For the last decade the interest rate of the IRB and its predecessors sat at around 10%, largely because of Deltaria's history of high inflation periods in its economy. The high interest rate allowed inflation to remain stable at 2.5 to 3%, but prevented businesses and individual Deltarians from borrowing and investing, thus holding back growth. With renewed plans for the economy expected soon and Deltarian entry into SOMECO the IRB, in dialogue with the Imperial Treasury, has come to the conclusion that a interest rate cut is needed to focus on renewed growth and investment into the economy. 

IRB Chair Petar Lacković announced that interest rates are to be cut from the current 10% to 6% in 0.5% steps in the coming year. The initial cut will be 1%, after which a 0.5% cut is made every two months in order to reach the 6%. According to  Lacković such a step by step approach allows the IRB to monitor the effects of the cuts and, if needed, adjust accordingly. With the political situation in Deltaria stabilizing as a result of a great response from our Emperor, these cuts combined with the increased stability are expected to significantly improve Deltaria's business environment. Treasurer Costi Mandruleanu expressed his confidence in the Deltarian economy and will himself announce a new economic reform package, aimed at boosting the Deltarian economy. 

Rearmament, introduced by the Imperial government last year, is likely to put pressure on Imperial finances. With the planned economic reforms, combined with prudent fiscal policy, the government hopes to significantly improve the economy and in turn lower the impact of increased state expenses. So far the Treasury has not resorted to borrowing, with state coffers still significantly filled due to years of cautious policies. Whether it can maintain this level of spending without borowing in the short to long term is debated.

Balgrad elected to "city of the year" - The city of Balgrad, mostly known for housing the largest Deltarian naval contingent, has been elected "city of the year" in a contest organized by the non profit "City of the Future" collective. The contest is held each year to promote better living conditions, sound urban planning and improved services. The city of Balgrad, under mayor Gavril Negrescu, has improved significantly in the last two years. While always focussed around the military and specifically the navy, the city has tried to attract local and national businesses, building a new commercial district last year. It has further improved city infrastructure and introduced new social housing initiatives that have so far helped 5.000 new people to find a home. CotF has congratulated Balgrad with their "continuing transformation" and, despite its issues, the city is seen as a rising hub for new families from across the country

Akigan extremist shot at Jelbe border - A citizen of the province of Doron Akigo was shot last night in the city of Zog, with authorities claiming him to be part of the Akigan nationalist "Owl" movement. According to the Imperial Guard, the man was trying to smuggle weapons into our Grand Empire, using two corrupt border officials to smuggle them in. One of those officials informed the Guard of the ordeal, after which a operation was put in place to catch the extremist. What resulted was an operation in which one Akigan citizen was killed, with four more arrested as well as one border guard shortly after the encounter. Federal authorities have pledged to continue their investigations into the Owl movement, with their activity having increased as provincial autonomy in Doron Akigo has been under pressure from federal oversight. Doron officials in the province have condemned the violence, citing their hopes for "continued peacefull coexistence in our province."