News

Daily Newsletter - 10 February 2021

Summary

FIC Daily Newsletter | 10.02.2021
 Macroeconomic (2) || Financial (3) || Investment (2) || Politics (2) || Social (3)
ANCOM imposed over RON 3.5 million fines last year
The National Authority for Management and Regulation and Communications (ANCOM) has reported that it conducted about 3,500 verifications on the electronic communications, postal services and radio equipment market last year, following which it imposed over RON 3.5 million fines. Moreover, in 2020, ANCOM finalized a new campaign aimed at measuring national coverage with voice services of areas inhabited by minimum 98% of Romania’s population by operators Orange, Vodafone, Telekom and RCS&RDS.
Trade balance deficit has grown
Trade balance deficit (FOB/CIF) grew to EUR 18.387 billion, after December marked the second highest monthly trade deficit of the past ten years, according to the National Institute of Statistics (INS)’s estimates. FOB (Free on Board – no insurance and transport expenses) exports fell by 9.9% in 2020 year-on-year, to EUR 62.175 billion.
Volume of new retail and corporate loans has increased
New corporate loans, worth RON 48.45 billion in 2020, accounted for nearly 58% of the total new loans granted last year, while new retail loans, worth RON 35.45 billion, represented over 42% of the total. The volume of new loans granted to households and companies accounts for about 30% of the RON 282.4 billion private lending balance recorded at the end of 2020.
Parents have not saved much money for children through Junior Centenary program
Parents can save money for their children through the “gROwth – Junior Centenary individual savings account” program. According to data made available for HotNews.ro by the Ministry of Finance, only 1.5% of Romanian children have money in bank accounts, even though the program was launched about two years ago. The main reasons for this situation have to do with the program’s insufficient promotion and with the fact that parents could not afford to save money anyway, even if they knew about the program.
The capital market in Romania grew in January 2021
The capital market in Romania grew in January 2021 more than in the entire year 2020, according to a press release of Bucharest Stock Exchange (BSE), indicating that the BET-TR index, which includes dividends as well, was up 5.1% in January compared to the similar month of last year. Moreover, BET-TR ended the last trading session in January 2021 at a record level of 17.350 points.
Mehedinti County Emergency Hospital to benefit from new medical equipment
Authorities from Mehedinti County have announced that the project through which Drobeta Turnu Severin County Emergency Hospital will benefit from EUR 6.4 million medical equipment was approved for financing with European funds. The official confirmation came from the South-West Oltenia Regional Development Agency. Dozens of pieces of equipment will be purchased with European funds, including a modern ambulance, as well as equipment for anti-Covid-19 treatments.
Repair works on the district heating system in Bucharest are soon to begin
The General Mayor of Bucharest, Nicuşor Dan has announced that repair works will be carried out on five sections of the district heating system in Bucharest, and RON 300 million has been allocated for the project. He has added that the objective is to finalize the five sections this year, so that works on other sections can start in the spring of 2022, this time financed with European money.  
PNL and USR deputies can be convinced to vote on motion against Health Minister
Social Democratic (PSD) Deputy Alexandru Rafila believes that Health Minister Vlad Voiculescu is unable to manage the fight against the Covid-19 pandemic and to efficiently organize the institution he coordinates. Moreover, Mr. Rafila considers that deputies in the ruling coalition could be convinced to vote on the simple motion against the Health Minister that will be filed next week.
PSD submitted in Parliament a draft law on the elimination of MPs’ special pensions
Yesterday, the Social Democratic Party (PSD)’s National Political Bureau unanimously decided upon submitting in Parliament a draft law on the elimination of MPs’ special pensions, the leader of Social Democratic deputies Alfred Simonis announced. He pointed out that the National Liberal Party (PNL) and USR PLUS had not kept their promise to eliminate special pensions and he did not see any intention in this direction either.
Romanian employees want more flexible working hours
Romanian employees want more flexible working hours (53%) and, for 46% of them, labor market instability is the main reason why they do not change their current jobs, according to a study conducted by EY Romania. The aforementioned source indicated that, at the beginning of the Covid-19 pandemic, Romanian employees had paid attention to the way their employers had prepared for a major crisis, as well as to transparency and communication with their employees.
Romanian employees are the most stressed and fearful in Europe
Romanian employees are the most stressed and fearful in the region, but also the last ones to resort to therapy. Romanians would leave the country for higher salaries and better healthcare and education systems, according to a survey conducted by Undelucram.ro in November and December 2020. 1,323 companies and 8,713 employees from Romania, Greece, Hungary and the Czech Republic – countries where Undelucram owns local platforms – participated in the survey.