The average spot price of energy traded on the OPCOM exchange was about
EUR 59 per MWh last month, 2.3 times higher than in the same period of
2020. The main factors to have contributed to this advance were the
recovery of demand and the unprecedented increase in the costs of CO2
emissions certificates. Since the beginning of the year, Romania has
consolidated its energy importer status, with a maximum of 20% of
consumption amid the shutdown of a reactor from Cernavodă, but it has
also become a significant gas importer.
Exports grew by 19.9% and imports were up 18.9% during the period 1
January – 30 April 2021, compared to the similar interval of 2020.
Trade balance deficit (FOB/CIF) stood at EUR 7,059.8 million between 1
January and 30 April 2021, up by EUR 957.5 million year-on-year.
Over the past five years, ING Bank has invested more than EUR 3 million
in the Startarium platform, launched together with Impact Hub, meant to
support start-ups by providing them with the necessary tools for
business development, from idea implementation to business scaling.
Since 2016 up to present, Startarium has supported over 5,000
businesses, and more than 100 Romanian entrepreneurs have benefited
from free guidance from mentors to accelerate the development of their
BRD-SocGen, the third biggest bank on the local market asset-wise, had
deferred loan instalments for more than 50,000 people by the end of the
period when moratorium applications could be submitted in 2021, and
most clients resumed payment after the expiry of the deferral period,
according to Radu Topliceanu, Deputy CEO - Head of Retail Banking at
BRD-SocGen. In 2021, demand for such measures was much lower than in
The National Bank of Romania (NBR) no longer bought RON-denominated
government bonds from the secondary market in May, after the RON 247.4
million cumulated purchases from March and April, according to the
statistical report published by the central bank. The acquisitions from
the past months were made amid the higher long-term financing costs
demanded by financiers, given the recalibration of inflationary and
economic evolution expectations, both at local and at global level,
recalibrations that generated turbulences and interest rate increases
on most sovereign debt markets.
After having consolidated its leading position in the execution of
facades and curtain walls on the office segment, Alusystem, part of the
Bog’Art group, is innovating in the area of aluminium joinery for the
residential market. The company has launched a new type of aluminium
joinery for residential projects, through which it offers premium
quality, specific to office buildings, for affordable prices, similar
to PVC joinery. About EUR 1 million has been invested so far in the new
Orşova Shipyard (SNO) has concluded two contracts for the construction
and delivery of two river vessels, worth a total of EUR 5.22 million.
The buyers are the Dutch companies Rensen-Driessen Shipbuilding and
TEAMCO Shipyard. Delivery deadlines are 31 July 2022, and 31 March 2022
respectively, in Rotterdam. Payment will be made through a down-payment
from the value of the contract.
Distributie Energie Electrică Romania (DEER), part of Electrica Group,
announced yesterday that it planned to make RON 639 million investments
this year. About 28% of these investments target energy efficiency
works, 22% will cover works to improve the quality of the distribution
service (continuity of supply and energy quality) and 27% target works
to create conditions for consumers’ connection.
During yesterday’s meeting, the Government adopted an Emergency
Ordinance completing Law no. 49/1991 on the granting of allowances and
bonuses to war invalids, veterans and widows. Through the adopted
normative act, war invalids, veterans and widows are granted a monthly
non-taxable gratitude allowance amounting to 50% of the average gross
wage used to substantiate the state social security budget
corresponding to the year when the payment is made. The value of this
gratitude allowance is RON 2,690 per month for 2021.
Yesterday, the Senate adopted, as the first notified chamber, with
amendments, the draft law allowing the Government to issue ordinances
during parliamentary recess, between July and August. The Legal Affairs
Committee adopted several amendments, including the one eliminating
from the list of normative acts to be adopted by the Government through
ordinances, during the parliamentary recess, the one establishing
temporary measures for the State Assets Management Authority’s
The European Parliament voted in favour of the EU digital COVID
certificate on Tuesday (8 June), bringing the EU one step closer to
finalising the initiative due to come into force on 1 July and
facilitate travel across the bloc. The text still needs to be formally
adopted by the 27 member states in the Council, signed into law and
published in the EU’s Official Journal. It will be in place for 12
Prime Minister Florin Cîțu has announced that the Government will issue
an Emergency Ordinance (OUG) to postpone the increase in children’s
allowances and that the next increase will take place next year. The
Prime Minister has added that allowances will no longer increase by the
calendar established last year, as the economic context has changed and
the Government is trying to reduce the deficit, an effort "everyone
must contribute to".
The head of the Department for Emergency Situations, Raed Arafat stated
yesterday that a fourth wave of the COVID-19 pandemic was not excluded
and recommended Romanians not to spend their holidays in countries with
high epidemic risk. The Secretary of State in the Home Affairs Ministry
mentioned there were currently no problems regarding the number of
intensive care beds for COVID-19 patients.