News

Daily Newsletter - 4 April 2017

Summary

Macroeconomic News (5)

Diesel subsidy to be RON 1.4185 per liter (Source: zf.ro; Date: 2017-04-03; Author: Unspecified)

The Cabinet has set the subsidy for farming diesel at RON 1.4185 per liter for this year. The subsidy is the gap between the standard excise and the reduced excise and the funds will come from the state budget, within the limits set by the Ministry of Agriculture.

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Unemployment rate stable (Source: bursa.ro; Date: 2017-04-03; Author: Unspecified)

The unemployment rate was 5.4% in January and February, the lowest figure in two decades, according to the National Statistics Institute (INS). The number of unemployed was estimated at 489,000.

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Romanian farmers expect "small wheat crisis" (Source: news.ro; Date: 2017-04-03; Author: Unspecified)

The average wheat, barley and rape harvests will fall by 7.4%, 11% and 9.2% this year, respectively, according to the European Commission's March forecast. Farmers say that the EU report is realistic and that Romania may face a "small wheat crisis" this year.

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Decade's best harvest added nothing to GDP (Source: cursdeguvernare.ro; Date: 2017-04-03; Author: Unspecified)

Last year's cereals harvest exceeded slightly the 2011 bumper harvest, plus a new record for oil plants. However, the harvest's effect on the economic growth was literally zero as agriculture dropped to less than 4% of the GDP.

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ANAF collected RON 50.4 billion in Q1 (Source: profit.ro; Date: 2017-04-03; Author: Unspecified)

The National Fiscal Administration Agency (ANAF) announced that it had collected RON 50.42 billion in revenues in the first quarter of this year, up RON 631.3 million year-on-year.

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Financial News (3)

BNR could keep reference interest rate at 1.75% per year (Source: zf.ro; Date: 2017-04-03; Author: Unspecified)

The key interest rate will stay at the current level along with the minimum mandatory reserves, according to the opinions expressed by UniCredit financial analysts regarding tomorrow's monetary policy meeting of the BNR board.

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BNR's foreign currency reserves up EUR 200 million (Source: news.ro; Date: 2017-04-03; Author: Unspecified)

The foreign currency reserves of the National Bank of Romania (BNR) climbed slightly at the end of March, from EUR 34.5 billion to EUR 34.7 billion. BNR reported EUR 853 million in March inflows and EUR 653 million in outflows.

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Alpha Bank posts EUR 13 million in earnings (Source: bursa.ro; Date: 2017-04-03; Author: Unspecified)

Alpha Bank, the biggest Greek operating in Romania, has posted EUR 13.1 million in gross profits from its Romanian operations in 2016, according to information released by the parent bank in Athens. However, the gross value of loans dropped 0.8% last year to EUR 2.77 billion.

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Investment News (1)

Huawei opens global service center in Bucharest (Source: profit.ro; Date: 2017-04-03; Author: Unspecified)

Huawei has announced the official launching of its new Enterprise Global Service Center (EGSC) in Bucharest. The center occupies 2,000 sqm of office space in a new building and it will focus on technical support, remote implementation, network operations and support for partners and marketing.

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Legislative News (1)

Minister of Finance says unified payroll bill coming (Source: economica.net; Date: 2017-04-03; Author: Unspecified)

"The stability of the country demands a unified payroll bill and I am convinced that we will have a law to enforce beginning with July 1," said the Minister of Finance, Viorel Serban, on Sunday. The Minister added that the current system is chaotic because of unclear regulations and conflicting court rulings.

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Politics (2)

Nicusor Dan to run for new term (Source: romanialibera.ro; Date: 2017-04-03; Author: Unspecified)

Nicusor Dan announced that he would run for a new term as leader of the Save Romania Union (USR) at the party's future congress. The event was scheduled for May 12.

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"There's room for everyone in Romania" (Source: evz.ro; Date: 2017-04-03; Author: Unspecified)

Liviu Dragnea, leader of the Social Democratic Party (PSD), stated that the PSD is a tolerant party, without radical attitudes, and that he supports the idea that there's room for every person in Romania, regardless of sexual orientation. "I disagree with Senator Denes and I advise him and others to remember that they are PSD members," said Dragnea.

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Social (2)

Labor problems (Source: cursdeguvernare.ro; Date: 2017-04-03; Author: Unspecified)

The need to supply a skilled workforce through the vocational and technical education system is already critical for Romania's economy. Things would be different today if somebody with enough decision making powers had listened to the warnings of those directly affected by the labor shortage.

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Minister of Health says Romanian doctors willing to return (Source: adevarul.ro; Date: 2017-04-03; Author: Unspecified)

The Minister of Health, Florian Bodog, stated that the Minister would open a National Center for Human Resources (CNRU) that would provide assistance to Romanian doctors working abroad who want to return to Romania. The Minister added that he had received signs about the return of some doctors from Germany and England.

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