News

Daily Newsletter - 10 September 2021

Summary

Macroeconomic (4)
Financial (3)
Investment (2)
Legislative (1)
European News (1)
Social (2)
Macroeconomic 
Romania’s trade deficit in goods grew by 65% year-on-year in July 2021
Romania’s trade deficit in goods grew by 65% year-on-year in July 2021 and reached EUR 2.2 billion in just one month. Romania’s trade deficit after the first seven months of the year stood at EUR 12.9 million, according to data published by the National Institute of Statistics (INS). Romania’s exports increased by 15% year-on-year in July 2021, to EUR 6.4 billion, and imports were up 24%, to EUR 8.6 billion.
Retail sales in Europe will grow in 2021
After a year in which the industry was shaken to its foundations by the impact of Covid-19, the European retail and consumer goods sector will resume growth in 2021, according to the "Navigating the New Reality: Retail and Consumer" report, drawn up by PwC network’s global strategy department. According to a press release issued by the company, the growth rate will vary depending on each sector. For instance, in the case of trade in non-food products, the gross value added (GVA), the companies’ contribution to economy respectively, will grow by 5.3% in 2021 and by 7.2% in 2022, taking into account the success of vaccination campaigns across Europe, without the emergence of vaccine-resistant mutations or disruptions in the supply chain.
Romanians’ trust in entrepreneurs has grown by 50% in the past ten years
On the occasion of the 9th edition of the Romanian Business Leaders Summit, which also marks 10 years since RBL’s establishment, the Foundation launched a new project - the RBL Barometer, which shows, among other things that Romanians’ trust in entrepreneurs has grown by 50% in the past ten years. The report reviews the evolutions in 14 areas of activity, which entrepreneurs plan to monitor annually, with the gradual expansion of the monitored indicators. The current selection of indicators was made based on their importance for Romania’s economic performance and health.
INS to publish the inflation rate for August on Friday, 10 September
The National Institute of Statistics (INS) is to publish the inflation rate for August on Friday, 10 September, and analysts anticipate further acceleration of consumer prices after the increase to 4.95% from July. Fuels, tobacco, urban transport, electricity and natural gas recorded new price increases in August. BCR analysts estimate a 0.2% monthly rise in consumer prices and a 5.2% annual rate, in line with the forecasts of analysts surveyed by Bloomberg.
Financial 
The month of June brought changes to the top of the primary dealers ranking
The month of June brought changes to the top of the primary dealers ranking. As a result, BCR, the second biggest bank in Romania asset-wise, climbed to the first place in this top, after having ranked second in the first five months of 2021, the same as in December 2020, according to data published by the Ministry of Finance. ING Bank, the fourth largest bank on the local market asset-wise, fell to the second place in the ranking of primary dealers, after having been a leader in the previous months of 2021 and after having ended 2020 on the first place in this classification. ING had re-become the leader of the primary dealers ranking in the autumn of 2020, having outranked UniCredit Bank at the time.
Patria Bank has launched the Patria de Oriunde platform
Patria Bank has launched the Patria de Oriunde platform, dedicated to individuals, through which any new retail client of the bank can access banking products and services, such as accounts, deposits, current account packages, cards and Internet & Mobile Banking, 100% online, according to a press release issued by the bank. The new digital channel is part of the bank’s strategy to provide simple and convenient services to clients, wherever they are, in urban or rural areas, at home or on holiday, in the country or abroad.
OTP Bank Romania has launched the GirlPower program
OTP Bank Romania has launched GirlPower, the bank’s mentoring program led by Roxana Hidan, Deputy CEO and coordinator of the Business Division, and Mara Cristea, Deputy CEO and coordinator of the Finance and Planning Division, according to a press release. The program aims to generate personal and especially professional development opportunities for young women aged 18-26.
Investment 
Intel will invest EUR 80 billion to increase semiconductor production capacity
Intel Corp. has announced that it will invest up to EUR 80 billion in Europe over the next decade in order to increase the region’s semiconductor production capacity and that it will open its plant to automotive manufacturers, according to Euractiv. The company will also announce the locations of two new European factories by the end of the year.
Green Group announces a EUR 12 million investment in a production line in Slovakia
Green Group, a group of companies activating in the recycling sector, whose majority shareholder the Abris Capital Partners investment fund is, has announced a EUR 12 million investment for the installation of a production line for recycled PET (r-PET) plastic granules in Slovakia, with a capacity of 8,000 tons per year. In Romania, Green Group has been producing r-PET granules since 2015, having an annual installed capacity of 11,000 tons.
Legislative 
Ministry of Development has put for public consultation a draft order
The Ministry of Development, Public Works and Administration has put for public consultation a draft order regulating the cost standards per inhabitant and per kilometer, for the development and modernization of water networks, sewerage networks and roads financed through the "Anghel Saligny" National Investment Program. In the case of water and sewerage networks, the draft normative act stipulates the cost standards used for projects financed from European funds. The draft order thus proposes a standard cost of maximum EUR 1,250 per inhabitant for water networks, and of maximum EUR 2,500 per inhabitant for sewerage networks.
European News 
The EU is preparing for an influx of Afghans seeking asylum
The EU is preparing for an influx of Afghans seeking asylum, whether or not people flee en masse from the new Taliban government, the chief of the EU border agency said, noting that millions are already displaced in neighbouring countries. In an interview, Fabrice Leggeri, director-general of border agency Frontex, told Reuters the body was preparing for a possible surge, both through traditional routes such as from Turkey to Greece, and new routes such as via Belarus, which Brussels accuses of sending illegal migrants across the frontier.
Social 
Immunization with the third dose of anti-Covid-19 vaccine will start in October
The Ministry of Health has made every effort to be prepared for the start of immunization with the third dose of the anti-Covid-19 vaccine, Secretary of State Andrei Baciu stated yesterday, upon participating in the presentation of the feasibility study of the hospital to be built on Timisoara Boulevard in Bucharest. As to the existence of a national program through which people can test their antibody levels for free, in order to see whether a third dose of vaccine is necessary, he indicated that there was no international standardization regarding the antibody testing; therefore, the immunization decision should be determined by biological criteria. The Secretary of State in the Ministry of Health also said that the administration of the booster dose first of all targeted those who needed it from an immune point of view.
Romanians are increasingly concerned about the environment
People aged over 55 account for 60% of Romanians who collect household waste selectively, while young people aged 25-34 have the highest share, of 76%. Women recycle less than men, with 55% compared to 58%. On the other hand, 25% of respondents say they generally, but not always collect household waste selectively.