News

Daily Newsletter - 11 April 2017

Summary

Macroeconomic News (3)

Romanian exports up 5.4% in February (Source: profit.ro; Date: 2017-04-10; Author: Unspecified)

Romania's exports slowed down in February, rising only 5.4% to a total of EUR 5.07 billion. Meanwhile imports moved up 5.5% to EUR 5.72 billion, according to the preliminary data released on Monday by the National Statistics Institute (INS). The country's trade deficit was EUR 651.6 million in February, up 6.5% on an annual basis.

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Trade deficit reached EUR 1.3 billion (Source: cursdeguvernare.ro; Date: 2017-04-10; Author: Unspecified)

Exports moved up 9.2%, year-on-year, in the first two months of this year and 5.4% in February alone. However, imports surged 10.9%, year-on-year. The trade deficit reached EUR 1.3 billion at the end of February, up 27% year-on-year.

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10 billion Sovereign Fund – congenital diseases: midwives were selected, birth certificate is already to be written (Source: cursdeguvernare.ro; Date: 2017-04-10; Author: Unspecified)

The first step for establishing the Sovereign Fund for Development and Investment has been made Wednesday when the Official Gazette published Grindeanu government’s decision to create the inter-ministerial committee that will draft the legal framework for the establishment and operation of FSDI. A note should be made: the initiative has a great significance for Romania’s big partner institutions, as IMF and EBRD delegations visited the Government in March, to get details and provide their expertise in establishing the fund. The fundamental problem that the PSD’s initiative raises is that the institution’s future decisions could be influenced politically – which is unacceptable in the consolidated economies.

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Financial News (4)

PM Grindeanu says Eurozone accession depends on pay gap (Source: cursdeguvernare.ro; Date: 2017-04-10; Author: Unspecified)

Prime Minister Sorin Grindeanu stated at the Monday meeting of the inter-ministry committee for Eurozone accession that the entire process depends on closing the pay gap between Romania and the other EU member states. The meeting was held at the Victoria Palace and was attended by the BNR Governor and the Ministers of Finance and Economy.

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ROBOR up (Source: zf.ro; Date: 2017-04-10; Author: Unspecified)

The six-month ROBOR index, which is used mainly to calculate the cost of corporate loans, increased from 1.07% to 1.1% on Monday. The three-month index jumped from 1.18% to 1.21%.

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Daniel Daianu: "We need responsible local capital, including in the banking system" (Source: bursa.ro; Date: 2017-04-10; Author: Unspecified)

Romania needs the presence of responsible local capital in strategic sectors, including the financial sector, according to statements made on Friday by Daniel Daianu, a member of BNR's board, at a seminar organized by the Romanian Academy.

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BNR schooled magistrates on economy and banks (Source: profit.ro; Date: 2017-04-10; Author: Unspecified)

The magistrates attended the first finance-banking seminar of this year, which was organized with the help of the National Bank of Romania (BNR). One of the main topics was the negotiations between clients and banks, but the agenda also included discussions of unpredictability.

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Investment News (2)

NEPI to launch EUR 40 million project in Satu Mare (Source: profit.ro; Date: 2017-04-10; Author: Unspecified)

NEPI is planning to launch a EUR 40 million retail project in Satu Mare, which is scheduled to open toward the end of 2018. The Shopping City Satu Mare will be built on a 6-hectare property and will feature a parking lot with 1,000 parking spaces.

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German manufacturer looking for 140 employees (Source: zf.ro; Date: 2017-04-10; Author: Unspecified)

Car part manufacturer Eberspaecher Exhaust Technology Romania is looking for 140 employees for the plant it opened last year in Oradea, ranging from production quality engineers to HR personnel and forklift operators. The company wants to reach a total staff of 300 by the end of this year.

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Legislative News (1)

Dragnea postpones payroll bill discussion (Source: news.ro; Date: 2017-04-10; Author: Unspecified)

The unified payroll bill will reach the Parliament next week, despite the Minister of Labor's statements that the bill would be filed at the beginning of this week. Liviu Dragnea, president of the Social Democratic Party (PSD), said that the process would be delayed by one week in order to let the public voice its opinion on the draft bill.

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Politics (2)

Vasile Dancu upset with failure to pass bill (Source: digi24.ro; Date: 2017-04-10; Author: Unspecified)

Former deputy PM Vasile Dancu is unhappy with the Parliament for blocking the land management and zoning bill. "As the deputy prime minister and the minister of administration I spent a whole year working on that bill. I wasted dozens, hundreds of hours on changing the law. We had a balanced bill and we took it to the Parliament. This week, they blocked it and rejected it," said Dancu.

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PMP to send candidates to all partial local elections (Source: evz.ro; Date: 2017-04-10; Author: Unspecified)

Deputy Valeriu Steriu, executive president of the People's Movement Party, said the PMP would run candidates in all the partial local elections scheduled for June 11.

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Social (1)

Measles epidemic is effect of falling vaccination rate (Source: news.ro; Date: 2017-04-10; Author: Unspecified)

The measles epidemic that has been raging since September, 2016, is the result of the falling vaccination rate, which dropped from 94% in 2001 to 67% in 2015. This epidemic should be a warning to everybody, from doctors to parents, according to Alexandru Rafila.

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