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Central Bank Governor: Never in 27 years have I witnessed a greater yet riskier macroeconomic situation
Governor of the National Bank of Romania Mugur Isarescu stated that he has never witnessed in 27 years a better macroeconomic situation in Romania, but at the same time a riskier one, at the "Financial Market Forum" organised by the Romanian Banking Association. more »
Traffic increases at Bucharest airports put them among Europe's top five Q1 2017 highest rising
Bucharest City's two airports - Henri Coanda and Aurel Vlaicu - have joined the top five Q1 2017 highest rising airports in terms of passenger traffic increases, according to news from the Airports Council International Europe cited by the Bucharest National Airport Corporation (CNAB) in a press statement. In the group of airports welcoming between 5 and 10 million passengers per year Henri Coanda (OTP) was third, with a 21.5-percent increase, after Reykjavik-Keflavik (Iceland) and Kiev. Bucharest Baneasa (BBU) was first in terms of growth in the group of airports welcoming less than 5 million passengers per year. It was followed by Foggia (Italy), Nis (Serbia), Zadar (Croatia) and Oradea, according to ACI Europe. more »
April 26, 2017 15:25
Three percent of the total Romanian companies represent the engine of the domestic economy and half of them are in difficulty, according to the third edition of the CITR Group study on the evolution of the impact companies between 2013 and 2015. The number of these impact companies is shrinking, from 23,384 in 2013 to 19,564 in 2015. If this shrinking trend persists, the whole economy may be affected by contagion shows the CITR study. All this in the context in which Romania is not able to generate enough new entrepreneurs to compensate for the imbalance in Romanian business....more »
April 25, 2017 09:25
Romania, alongside three other EU Member States, had a government deficit (calculated based on ESA methodology, the European Accounts system - e.n.) of 3 pct or more of the GDP, according to a preliminary estimate released on Monday by Eurostat. In contrast, at the end of 2016, Romania was among the EU Member States with the lowest level of government debt against the Gross Domestic Product (37.6 pct). Eurostat points out that it has not made any changes to the data reported by the Member States. The Eurostat data differ from the figures presented in the execution of the consolidated general budget for 2016, according to which last year ended with a 18.3 billion lei deficit, 2.41 pct of the GDP respectively, on the increase by almost one percentage point as compared to the negative balance of 1.47 pct of the GDP in 2015.  ...more »
April 10, 2017 15:44
Prime Minister Sorin Grindeanu declared that the switchover to the euro will be possible only after the Romanians' incomes get close to earnings in other European Union member states. "Let's make sure that this monetary convergence is done in parallel with the convergence of incomes. We believe that the switchover to the euro can be done only after the Romanians' incomes get close to earnings in other EU member states," Grindeanu told the meeting of the interministerial Committee on the switchover to the euro, held at the Victoria Palace of Government quoted by Agerpress....more »
March 21, 2017 15:12
The unemployment rate recorded in the National Employment Agency (ANOFM) records was 4.80 percent in January 2017, higher by 0.03 percentage points compared to the one of the previous month and lower by 0.01 percentage points compared to the one ...more »
March 14, 2017 11:17
The industry turnover increased by 9.1 pct, in nominal terms, in January as compared to the same month of the previous year, but decreased by 5.6 pct compared with December 2016, reads a press release of the National Statistics Institute (INS) and quoted by Agepress. "The industry turnover fell by 5.6 pct in January 2017 compared to the previous month, following the drops in the manufacturing industry (-5.7 pct) and the mining industry (-3.3 pct). The following decreases were recorded in the large industrial groups: the consumer goods industry (-16.0 pct), the energy industry (-14.1 pct), the intermediary goods industry (-3.5 pct) and the durable goods industry (-1.6 pct). The capital goods industry has grown by 1.1 pct, reads the document....more »
March 08, 2017 14:54
The internet service penetration rate in Romania stands at 89 percent and connectivity around 60 percent, the National Authority for Administration and Regulation in Communications - ANCOM President Catalin Marinescu told a specialist conference oquoted by Agerpress....more »
March 01, 2017 14:20
Romanian M&A reached an eight-year high in deal volume with 45 deals, a spike of 41% year- on-year in volume, and a 60% jump in value with a combined deal value of €1.99bn shows a study released by Wolf Theiss and Merger Market.  The strong performance in 2016 came in spite of the political uncertainty generated by a parliamentary election in December, an indicator of the country’s growth potential, whichever party is in power. In fact, expansionist scal policy has played a central role in accelerating domestic demand, a key growth driver. A value-added tax cut from 24% to 20% in 2016 will be followed by a reduction to 19% in 2017, while there have been three increases in the minimum wage in 18 months....more »
March 01, 2017 14:14
With closed transactions of 3.5 billion EUR during 2015 and 2016, Romania has been the champion of the Central European region at non-performing loan (NPL) sales portfolios, according to Deloitte’s annual NPL Study.  The CEE region has experienced an increased interest of NPL investors and a higher bank activity due to improvement of economic conditions, coupled with an increase in provisioning following the AQR exercises in several of the CEE countries. The largest number of completed deal volumes took place in Romania (37%), followed by Hungary (24%), Poland (11%) and Slovenia (9%)....more »
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