News

Daily Newsletter - 26 July 2017

Summary

FIC (4)

FIC sends open letter (Source: cursdeguvernare.ro)

FIC believes that any measures regarding the healthcare sector should be carefully weighted and discussed with all stakeholders so that they do not contribute to a worsening of the social and economic conditions. FIC is committed to partner with the government in approaching this important and critical topic in order to identify potential solutions, ensuring an improving the healthcare system and consequently better productivity and quality of life for the Romanian citizens.

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FIC is concerned about Romania's medical system (Source: wall-street.ro)

Between 2013-2016 FIC rolled out a campaign called De profesie: Medic in Romania which focused on the declining number of health professionals in the country. Ours was one of the first organisations outside the healthcare sector to talk publicly about the availability of qualified personnel in the healthcare sector and the impact on well-being and long term economic growth. Our community continues to be worried about the healthcare system in Romania which has significant impact on the population at large and consequently on economy.

FIC is concerned about Romania's medical system (Source: hotnews.ro)

FIC is concerned about Romania's medical system (Source: saptamana.com)

FIC is concerned about Romania's medical system (Source: curierulnational.ro)

FIC is concerned about Romania's medical system (Source: ghidcabinet.ro)

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Romania approved only 50 new drugs in the past 8-10 years, compared to the EU's 650 (Source: agerpres.ro)

FIC believes that any measures regarding the healthcare sector should be carefully weighted and discussed with all stakeholders so that they do not contribute to a worsening of the social and economic conditions. FIC believes that the healthcare of Romanian citizens is important for the future of this country. Therefore, we believe concrete action is needed on two important pillars: sustainability and quality of care.

Romania approved only 50 new drugs in the past 8-10 years, compared to the EU's 650 (Source: bizlawyer.ro)
Romania approved only 50 new drugs in the past 8-10 years, compared to the EU's 650 (Source: diacaf.com)
Romania approved only 50 new drugs in the past 8-10 years, compared to the EU's 650 (Source: ziare-pe-net.ro)

Romania approved only 50 new drugs in the past 8-10 years, compared to the EU's 650 (Source: medicalmanager.ro)

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Romania's population is aging, life expectancy is low (Source: ziare.com)


People are the most important asset of our companies and we need our employees to be productive, educated, healthy and happy if they are to continue to create wealth and added value for this country. We reinforce our commitment to our employees’ health and wellbeing, as an important component of sustainable development. FIC member companies offer their employees various health benefits, services, programs and campaigns that not only support their health beyond local legal requirements regarding occupational health, but also aim to build a solid health culture and education and assure a safe and quality work environment.

Romania's population is aging, life expectancy is low (Source: business24.ro)

Romania's population is aging, life expectancy is low (Source: diacaf.com)

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Macroeconomic News (4)

Pay rises and falling VAT revenues worsen budget deficit 

The state budget showed a RON 6.3 billion deficit at the end of the first half of 2017, the equivalent of 0.77% of the GDP, according to the Ministry of Finance. The deficit was up 61% year-on-year. The consolidated state budget's revenues amounted to RON 117.2 billion, up 8.2% year-on-year.

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MFP borrowed RON 1 billion 

The Ministry of Finance sold an issue of discount T-bills worth RON 1 billion yesterday, at an average yield of 0.79% per year. The banks offered a total of RON 1.5 billion.

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Agricultural production up 2.5% 

The national agriculture sector reported a total production value of RON 69.3 billion for 2016, up 2.5% compared to 2015. The vegetable production jumped 5.3%, while livestock was down 2.4%, according to data released by the National Institute of Statistics (INS).

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Analysts expect RON to depreciate 

More than 70% of the experts polled for the latest CFA Romania macroeconomic confidence indicator expect the national currency to depreciate in the next 12 months. Almost all experts see an increase in interest rates ahead, for both short- and medium-term maturities.

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Financial News (3)

Deposits up 7.5% in H1 

Local retail deposits jumped RON 930 million in June, compared to the previous month, reaching a total of RON 168.6 billion. The aggregated value of retail and corporate deposits was RON 278.9 billion, up 7.5% year-on-year, according to the National Bank of Romania (BNR).

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Raiffeisen expects profits to triple 

Austrian banking group Raiffeisen Bank International (RBI) announced on Tuesday that it expects EUR 365 million in earnings for the second quarter of this year, almost triple the EUR 125 million posted for the corresponding quarter of 2016.

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Borrowing up in June 

Total private borrowing showed signs of recovery in June. The value of loans jumped 4.2%, compared to the previous month, according to the National Bank of Romania (BNR). RON-denominated loans surged 14.7%, compared to June, 2016.

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Investment News (1)

Philip Morris to invest EUR 490 million in Otopeni plant 

US cigarettes maker Philip Morris announced on Tuesday that it would invest EUR 490 million in setting up a new tobacco sticks production unit at its Otopeni plant. Sticks are used for the Iqos smokeless tobacco and the investment project will create 300 new jobs in the next two years.

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Legislative News (1)

Government opposes crowdfunding platforms 

The Government disagrees with the draft bill regulating the establishing of crowdfunding platforms, which have become one of the main ways startups attract money. The National Bank of Romania (BNR) informed the Government and Parliament that it was ready to endorse the bill, with some amendments.

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Politics (1)

Pleșoianu urges Minister of Justice to sack DNA head 

Deputy Liviu Pleșoianu (PSD) urged the Minister of Justice on Tuesday to sack prosecutor Laura Kovesi, head of the National Anti-corruption Directorate (DNA). According to Pleșoianu, Kovesi is a detriment to the independence of the judiciary and the image of the DNA.

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