Romania - Factors to Watch on May 27

BUCHAREST May 27 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Wednesday.

PRESIDENT IN GREECE

President Traian Basescu is on a two-day visit to Greece.

GOVERNMENT MEETING

The centre-left coalition government holds its weekly meeting at 1200 GMT.

MONEY SUPPLY DATA

The central bank will release April money supply data.

FINANCIAL SEMINAR

The finance and budget commission from the lower house holds debate on barrowing relaunch in the economy. Romania's deputy central bank governor Eugen Dijmarescu and first deputy central bank governor Florin Georgescu are expected to participate.

ROMANIA JAN-APRIL BUDGET DEFICIT AT 1.8 PCT/GDP

Romania recorded a consolidated budget deficit of 1.8 percent of gross domestic product in the first four months of the year, as the world crisis trimmed corporate tax receipts.

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ROMANIA PLANS TO SET UP J/V WITH RUSSIA'S GAZPROM

Romania plans to set up a joint venture company pooling together its state gas producer Romgaz and Russian gas giant Gazprom (GAZP.MM), Economy Minister Adriean Videanu said on Tuesday.

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RUSSIA, EU NEED TO INCREASE COOPERATION-BASESCU

Russia and the European Union must increase cooperation on major issues despite distrust fuelled by Russia's military action in Georgia and controversy over gas supplies, Romania's president said on Tuesday.

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EUROPEAN FUNDS

The government will create a loan guarantee fund for local authorities that are implementing projects with EU financing, Democrat-Liberal's vice-president Gheorghe Flutur said.

Ziarul Fianciar, Page 14

HYDRO-ELECTRIC POWER PLANT

By the end of this year the economy ministry will decide on the location of a new hydro-electric power plant to be built on the Danube, with a capacity of about 2,400 MW.

Business Standard, Page 8

HIGHWAY FINANCING

Romania's No. 2 bank BRD BRDX.BX will make a financing offer for the highway Comarnic-Brasov that will need total funding of 1.5 billion euros, BRD president Patrick Gelin said.

Business Standard, Page 13

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