News

Daily Newsletter - 6 September 2017

Summary

Macroeconomic News (4)

PM Tudose says no negative review 

Prime Minister Mihai Tudose told the Parliament on Tuesday that the budget review would be ready before the end of the month and that it would not be negative.

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INS confirms growth 

The National Statistics Institute (INS) confirmed on Tuesday the mid-August estimates regarding the GDP growth rate for the third quarter of the year. Except for the construction sector, the economy was growing across the board, with the industry accounting for 1.7 pp of the total growth rate.

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Florin Jianu, CNIPMMR: "The fuel surcharge will destabilize the economy" 

The increase in fuel taxes will have a negative impact on the business community, triggering a chain of price hikes across products and services and hurting the economic growth, competitiveness and exports, according to a survey conducted by the National Council of SMEs (CNIPMMR).

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Industry is main economic drive 

The latest data from the National Statistics Institute (INS) showed that the industry is the main drive of the national economy. The GDP went up 5.8% in Q3, compared to the corresponding quarter of 2016.

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Financial News (3)

Number of bad debtors down 

The number of private individuals who are more than 30 days behind in payments to banks and non-banking financial institutions dropped to 668,279 in July, down 2.7% compared to the previous month, according to the latest data from the National Bank of Romania (BNR).

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Romanians want to interact with banks using modern communication channels 

Romanians want to interact with the banks using modern communication channels, based on new technologies, according to a survey conducted by Mercury Research and commissioned by Datanet Systems. 85% of those polled would rather interact with clerks via online video calls.

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Alpha Bank posts EUR 20.3 million in H1 earnings 

Alpha Bank has posted EUR 20.3 million in gross earnings from its local operations for the first half of this year, a threefold increase compared to the corresponding period of 2016. The bank's deposits jumped 12.7%, while the portfolio of loans expanded by only 0.3%.

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Investment News (2)

EU invests EUR 155 million in Romania's water management infrastructure 

Six major water management infrastructure projects will receive a total of EUR 155 million from the Cohesion Fund. The purpose of these projects is to improve the collection, treatment and distribution of water across the country, according to a press release issued by the European Commission.

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ILDC invests EUR 6 million in second Estic Park building 

The developers of the Estic Park ensemble are preparing to begin constructing the ensemble's second building. In the first months of this year, the developers sold 70% of the first building.

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Politics (2)

Dragnea and Tariceanu's lawsuits start over 

The lawsuits against Liviu Dragnea and Calin Popescu-Tariceanu, the two leaders of the ruling coalition, will start over, according to the High Court's ruling. The two were on trial for instigation to abuse of office powers, perjury and aiding and abetting. The ruling was triggered by the retirement of judge Ana-Maria Dascalu, who was involved in both trials.

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PNL tries to fool us with motions 

The National Liberal Party (PNL) has decided to support simple motions regarding the healthcare and transport sectors and to set up two commissions to look into MAI hiring and infrastructure. Party leaders Raluca Turcan and Florin Catu had managed to successfully promote their own issues at the Political Bureau meeting held in Neptun.

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