News

Daily Newsletter - 19 April 2017

Summary

Macroeconomic News (4)

Surcharge elimination and VAT rate cut brought fuel prices down 9% (Source: zf.ro; Date: 2017-04-18; Author: Unspecified)

Fuel have dropped by an average of 9% since the end of 2016, following the elimination of the fuel surcharge and the reduction of the VAT rate. OMV Petrom posted yesterday a gasoline price of RON 4.92 and a diesel price of RON 4.81 per liter.

Top

The list of things Romania doesn't know it can make (Source: cursdeguvernare.ro; Date: 2017-04-18; Author: Unspecified)

The EU trade was around EUR 43 billion worth of exports and around EUR 52 billion worth of imports last year, accounting for 75% of Romania's exports and 77% of imports. Almost 90% of the country's foreign trade deficit was the result of its trade relations with EU countries.

Top

Employment rate reached 61.6% in 2016 (Source: profit.ro; Date: 2017-04-18; Author: Unspecified)

The employment rate of Romania's population rose to 61.6% in 2016, while the unemployment rate dropped from 6.8% to 5.9%, according to data released on Monday by the National Statistics Institute (INS). The report showed that young people, seniors and poorly educated individuals have a low presence on the labor market.

Top

IMF upgrades economic forecast (Source: bursa.ro; Date: 2017-04-18; Author: Unspecified)

The IMF has announced that Romania's economy will grow faster than expected this year, but still below the government's 5.2% estimate. The IMF upgraded its growth forecast for the Romanian economy from 3.7% to 4.2%.

Top

Financial News (2)

Rejected payments down 15% in February (Source: zf.ro; Date: 2017-04-18; Author: Unspecified)

Local banks rejected RON 414.1 million worth of checks and payment orders in February, down RON 72 million from the previous month, according to the National Bank of Romania (BNR).

Top

Raiffeisen appoints two executive VPs (Source: hotnews.ro; Date: 2017-04-18; Author: Unspecified)

S&L lender Raiffeisen Banca pentru Locuinte has added two new members to its executive year: Ileana Cioana and Ionel Fierascu. The two replaced Claudia Butac and Stelian Stanga, who left the bank last year. Cioana was put in charge of the Distribution Division, while Fierascu is heading Operations.

Top

Investment News (1)

B Braun to invest EUR 300 million in new plant (Source: zf.ro; Date: 2017-04-18; Author: Unspecified)

German group B Braun will invest EUR 300 million in a new plant, for which a Timis county location has been selected. The plant will produce IV solutions. "The construction work will begin this summer and will probably be completed in one or two years," said the mayor of Sanandrei, the future site of the plant.

Top

Legislative News (1)

Andronache says amendment guts conflict of interests efforts (Source: news.ro; Date: 2017-04-18; Author: Unspecified)

Deputy Gabriel Andronache (PNL), a member of the Chamber's Judiciary Commission, stated on Tuesday that the bill amending articles 301 and 308 of Law 286/2009 would make the notion of conflict of interests completely empty. For this reason, PNL deputies will vote against the bill.

Top

Politics (2)

Historical speech on EU's future (Source: evz.ro; Date: 2017-04-18; Author: Unspecified)

The President of the European Commission, Jean-Claude Juncker, will be in Bucharest on May 11 to celebrate the tenth anniversary of Romania's EU accession. Juncker will deliver a speech called "The Future of Europe" before the Romanian Parliament.

Top

Dan Andronic promises more information (Source: bursa.ro; Date: 2017-04-18; Author: Unspecified)

Journalist Dan Andronic announced that he is perfectly willing to come before the Parliament, should he be summoned, because it would give him the opportunity to present information that is still secret regarding the presidential election of 2009.

Top

Social (3)

Emergency crews ready for action (Source: news.ro; Date: 2017-04-18; Author: Unspecified)

More than 2,000 fire fighters, 1,700 road policemen and 300 mountain gendarmes are ready for action, as the authorities issue a code orange snow alert in 15 counties and a code yellow rain and wind alert for the rest of the country. The Minister of Internal Affairs warned drivers about using the mountain roads in the coming days.

Top

GfK: Romanians spend more and buy more expensive products (Source: adevarul.ro; Date: 2017-04-18; Author: Unspecified)

2016 was the second consecutive year when Romanians spent more and bought more expensive products. The FMCG market grew 3.4% last year, compared to 2015, thanks to a 3% increase in the volume of goods bought by consumers and to a change of focus toward superior products, according to a report published by GfK Romania on Tuesday.

Top

Romania's population down 74,050 (Source: cursdeguvernare.ro; Date: 2017-04-18; Author: Unspecified)

Romania's population dropped by 74,050 people between March, 2016, and February, 2017, the equivalent of a small county seat town like Alba Iulia. The natural growth rate exceeded for the first time the -70,000 threshold.

Top