News

Daily Newsletter - 2 March 2017

Summary

Macroeconomic News (4)

MFP tells EC Romania would meet deficit target 

The European Commission had asked the Romanian Minister of Finance to make public the country's budget deficit reduction measures. The Ministry of Finance issued a public statement assuring everyone that the 3% budget deficit cap would be observed.

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Iancu: Full deregulation would stop any attempts to save centralized heating systems 

The full deregulation of natural gas prices four years ahead of schedule would stop any attempts to save Romania's centralized heating and hot water systems, according to statements made on Wedensday by Iulian Iancu, president of the Chamber of Deputies' Industry and Services Commission.

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Health and education budgets could be sacrificed 

Investments, education and health are the first budgets that could be sacrificed should the Government be forced to take steps to keep the deficit under control. The European Commission has given the Cabinet until April to bring the deficit under 3%.

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New company registrations down 

The registrations of new companies dropped a third in January, compared to the corresponding month of last year. The decline was blamed by tax consultants on political turmoil and regulatory modifications. Suspension of activity, disbanding and folding are also down 50-60%.

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Financial News (4)

State competes with private sector for bank funds 

Government borrowing reached RON 92.2 billion at the end of 2016, more than 86% higher compared to the value of loans granted to private corporate clients, according to the National Bank of Romania (BNR).

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BNR currency reserves down EUR 23 million in February 

The foreign currency reserves of the National Bank of Romania (BNR) dropped by EUR 23 million in February, down to EUR 34.5 billion. BNR made several payments on account of the public debt.

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Romania leads CEE index of NPL sales 

Romania reported for 2015 and 2016 the highest NPL sales of Central and Eastern Europe, according to the annual report released by consultancy firm Deloitte. The national banking system reported EUR 3.5 billion worth of NPL sales for the two years.

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Andreas Treichl, Erste Bank: "Politicians cannot be that irresponsible as to toy with BCR" 

BCR is the biggest bank in Romania and politicians cannot be that irresponsible as to toy with the biggest source of financing in the country, said Andreas Treichl, CEO of Erste Group Bank. The statement came in reply to a question regarding a possible bank tax.

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Investment News (2)

Monza Hospital invested EUR 2 million in robotic surgery 

The Monza Hospital, the biggest private hospital for cardiovascular surgery in Romania, has spent more than EUR 2 million on the Da Vinci robotic surgery system. This revolutionary system makes surgery as non-invasive as possible.

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Gestamp buys Romanian plant 

Gestamp, a Spanish company that specializes in designing and manufacturing automotive parts, announced its expansion to Romania with the acquisition of a plant located on the outskirts of Pitesti. The plant's main client is the Renault-Nissan group.

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Legislative News (1)

PNL wants public employees to keep jobs 

Senator Raducu Filipescu (PNL) filed with the Parliament a bill that would let public employees keep their jobs while being on trial for corruption and abuse of office powers, false statements and preventing the course of justice. PSD leader Liviu Dragnea supports the bill.

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Politics (1)

Will UNPR2 emerge? 

Rumors swirl around the Parliament that some senators and deputies belonging to the PSD and ALDE could leave both parties and set up a group of "independents" that would operate similarly to the former UNPR.

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