News

Daily Newsletter - 21 April 2021

Summary

Macroeconomic (3)
Financial (3)
Investment (3)
Legislative (1)
European News (1)
Social (2)
Macroeconomic 
Prime Minister Florin Citu has stated that he expects a deficit of less than 7% this year
Prime Minister Florin Citu has stated that he expects a deficit of less than 7% this year, which will most certainly be appreciated by rating agencies. He has pointed out that economic recovery depends on the success of the vaccination campaign, which would lead to "that effervescent economy in which people go and spend their resources and use them in Romania". PM Cîţu has also commented on the Romanian currency’s depreciation against the euro, stating that, in his opinion, this is only temporary.
Romania recorded the third biggest advance of construction works in EU in February
With a 1.6% advance recorded in February 2021, at an annual rate, Romania was one of the three EU countries where production in the construction sector grew compared to February 2020. The biggest advances were recorded in Sweden (5.8%) and Austria (3.6%). Moreover, construction works in Romania increased by 2.3% at a monthly rate. Apart from Romania, only three countries reported monthly advances in this sector: Sweden (9.2%), Austria (8.8%) and Bulgaria (0.2%).
Unemployment rate stood at 5% in 2020, higher than in the previous year
Unemployment rate stood at 5% in 2020, higher than in the previous year (3.9% in 2019). Gender unemployment gap was 0.6% (5.3% in men compared to 4.7% in women), while urban-rural unemployment gap reached 1.4% (5.8 % in rural areas compared to 4.4% in urban areas). The highest unemployment rate (17.3%) was recorded among young people aged 15-24, according to the National Institute of Statistics.
Financial 
NN Pensii reported a RON 44.9 million net profit for 2020
NN Pensii, the administrator of the largest Pillar 2 private pension fund in Romania, has reported a RON 44.9 million net profit for 2020, compared to nearly RON 40 million losses incurred in the previous year, according to data published on the company’s website. Its turnover increased from RON 82.3 million to RON 143.7 million. The company intends to pay RON 2.8 million dividends from the net result, and use another RON 39.7 million to cover the accounting loss.
CEC Bank clients can make transfers to any other bank in Romania using their telephone number
CEC Bank clients can make transfers to any other bank in Romania using their telephone number as an alias, instead of the IBAN code, through the CEC Bank’s Mobile Banking application. CEC Bank is thus the first institution in Romania to offer this service regardless of the bank corresponding to the recipient’s account, even for bank accounts that are not enrolled in the AliasPay service, recently launched by Transfond.
Bucharest Stock Exchange has launched BVB Research Hub
Bucharest Stock Exchange (BSE) has launched BVB Research Hub, a source of essential information about companies listed in Bucharest, useful in the investment process, according to a press release issued by the capital market operator. The platform aims to increase issuers’ visibility and to facilitate investors’ access to good quality resources. BVB Research Hub is dedicated to individual and institutional investors, listed companies and brokers, as well as to the general public. Access to the resources available on the platform is free.
Investment 
Arcadia announces new investments dedicated to the neurosurgery specialty
Arcadia - Hospitals and Healthcare Centers, a private healthcare network in the region of Moldova, has announced over EUR 600,000 new investments dedicated to the neurosurgery specialty. In 2020, Arcadia equipped the centers and hospitals in the network with latest generation medical instruments and equipment allowing minimally invasive treatment of frequent diseases, patients’ faster recovery, but also enhanced postoperative comfort.
A regional hospital will be built in Iaşi
Yesterday, Finance Minister Alexandru Nazare and the Vice President of the European Investment Bank (EIB), Christian Kettel Thomsen signed a EUR 250 million financing contract for the construction of the first Regional Emergency Hospital in Romania, in Iaşi. The new hospital will have 850 beds and will replace the old infrastructure of the County Clinical Hospital with a modern structure and new equipment at European standards.
The National Institute of Neurology will receive RON 48 million financing
The Ministry of Investments and European Projects (MIPE) has signed a RON 48 million contract for the acquisition of medical equipment for the National Institute of Neurology and Neurovascular Diseases in Bucharest. The project will increase the Institute’s treatment and diagnosis capacity thanks to the additional medical equipment, including the one necessary for the Intensive Care department, but also for departments’ disinfection.
Legislative 
Government has initiated a draft law regarding payments by card
A draft law initiated by the Government stipulates that payments by card or cash withdrawal without the holder’s consent shall be punished with 7 years in prison, the same penalty being mentioned for the unauthorized use of certain mobile applications. The draft law aims to modify the definition of non-cash and virtual currency payment instruments, to adapt crimes involving fraud committed through computer systems and electronic means of payment, including through virtual currencies, and to adapt the electronic payment instruments forgery crimes to the standards imposed by the "Non-Cash" Directive.
European News 
An EU regulation on tire labeling come into force on 1 May
An EU regulation on tire labeling due to come into force on 1 May will not cover the rate at which tires shed particles - a major contributor to microplastics in Europe - as an agreed method for the calculation of abrasion is still not in place. The requirement to list abrasion was included in the tire labeling regulation, adopted in February 2020, but pushed back due to technical questions over how to measure the rate at which particles are jettisoned from tires.
Social 
Minister of Labor has launched the idea of setting up pension funds for occupational groups
Minister of Labor Raluca Turcan has launched the idea of setting up pension funds for occupational groups, as it happens in other countries. She also spoke about the principles behind the granting of magistrates’ service pensions, pointing out that pensions should be as close as possible to the value of the salary, but should not exceed the salary. Mrs. Turcan also spoke about the second principle regarding magistrates’ service pensions, namely stimulating people to remain active by providing retirement benefits.
Anti-COVID-19 vaccination through mobile centers and mobile teams will start on Wednesday
The coordinator of the national anti-COVID-19 vaccination campaign, Valeriu Gheoghiţă has announced that vaccination through mobile centers and mobile teams will start today and that the caravans will initially get to seven counties. He has pointed out that Moderna’s vaccine will be used in the mobile centers.