News

Daily Newsletter - 12 April 2017

Summary

Macroeconomic News (4)

Number of new vehicles registered in March up 2.19% (Source: news.ro; Date: 2017-04-11; Author: Unspecified)

10,453 new vehicles were registered in March, 2017, a 2.19% increase year-on-year, according to the DRPCIV. The most popular new cars were Dacia, Ford, Volkswagen, Skoda and Toyota. The biggest increase was reported for medium and heavy commercial vehicles (between 3.5 and 16 tons).

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Ionut Dumitru sees game over for state budget (Source: profit.ro; Date: 2017-04-11; Author: Unspecified)

The new payroll bill will lead to a 40-50% increase in the public employees' salaries next year, which would take the budget deficit to 6% of the GDP. Ionut Dumitru, president of the Fiscal Council, said the new bill would double the state budget's payroll burden.

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Industry turnover up 7.5% (Source: bursa.ro; Date: 2017-04-12; Author: Unspecified)

The industry's turnover was up 7.5% month-on-month, thanks to the 7.5% growth rate reported by the processing industry and the 6.8% logged by the mining industry. The durables sector posted a massive 19.2% growth rate.

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Average salary down (Source: cursdeguvernare.ro; Date: 2017-04-11; Author: Unspecified)

The gross average salary reported by the National Statistics Institute (INS) was RON 3,108 in February, down 1.9% from the previous month. The net average salary was RON 2,236. Paradoxically, the RON 60 drop in the gross revenue led to a RON 68 fall of the net revenues.

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Financial News (3)

RON down 1.67% in 12 months (Source: digi24.ro; Date: 2017-04-12; Author: Unspecified)

The National Bank of Romania (BNR) announced on Wednesday a reference exchange rate of RON 4.5416 per EUR, down 0.1% on the day. The national currency is bucking the regional trend and continues to appreciate as market pressures ease. Over the past 12 months, the national currency dropped 1.67% against the euro.

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Isarescu says authorities should focus on closing development gaps (Source: bursa.ro; Date: 2017-04-11; Author: Unspecified)

The members of the inter-ministry committee for Eurozone accession decided at the first meeting, held on Monday, to continue analyzing the measures needed to secure the country's accession. The Governor of the National Bank of Romania (BNR), Mugur Isarescu, stated that a sustainable accession requires a strong focus on closing the gaps separating Romania's regions by investing in infrastructure and increasing revenues.

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Romanian banks among EU's most lucrative lenders (Source: zf.ro; Date: 2017-04-12; Author: Unspecified)

Romanian banks remained among the European Union's most lucrative lenders last year, following the cleansing of their balance sheets. The return on equity of local banks is almost five times above the EU average, second only to Hungary's 15.7%.

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Investment News (2)

Regina Maria invested EUR 3.5 million in lab (Source: profit.ro; Date: 2017-04-11; Author: Unspecified)

Medical services chain Regina Maria has opened the most automated laboratory in Romania. The chain bought cutting edge technology for the EUR 3.5 million project. The laboratory can service 2,200 patients every day and can handle 20 million tests per year.

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MApN wants Parliament approval for investment programs (Source: cursdeguvernare.ro; Date: 2017-04-11; Author: Unspecified)

The Ministry of Defense (MApN) sent the Parliament on Tuesday the Army's procurement plan. According to the paperwork accompanying the plan, the Ministry wants the Parliament to approve EUR 9 billion worth of acquisitions in what is shaping to be a major overhaul for the Army.

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Legislative News (1)

Senate approves state aid for pig farmers (Source: euractiv.ro; Date: 2017-04-11; Author: Unspecified)

The Senate has passed the bill approving the Pork Raised in Romanian Farms program, a subsidy scheme for Romanian farmers. The bill is now on its way to the Chamber of Deputies.

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Politics (2)

Turcan discusses stark reality (Source: news.ro; Date: 2017-04-12; Author: Unspecified)

Raluca Turcan, the interim leader of the National Liberal Party (PNL), stated on Tuesday in Ploiesti that "the PNL was badly defeated in the last elections" and that "we came close to destruction". Turcan blamed the situation on "a dire lack of dialog" and "a lack of respect within the PNL team, a stark divide between the center and the base".

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PNL fears angering the left leaning voters and does nothing for right leaning voters (Source: news.ro; Date: 2017-04-11; Author: Unspecified)

Viorel Catarama, senior vice president of PNL's Second District organization (Bucharest), stated on Tuesday that the party fears angering the left leaning voters and does nothing for right leaning voters. According to Catarama, these are the reasons why the party was punished in the recent elections.

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Social (1)

Ministry of Health releases new vaccination rules for public debate (Source: adevarul.ro; Date: 2017-04-12; Author: Unspecified)

The Ministry of Health released yesterday for public debate the draft vaccination bill. The fines for parents who fail to vaccinate their children were replaced with criminal prosecution and prison terms ranging from three to seven years.

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