News

Daily Newsletter - 11 January 2021

Summary

Macroeconomic News (3)

Vegetable prices up

The drought that started in the autumn of 2019 has severely affected all farmers. Vegetable growers were hit by both the drought and the effects of the coronavirus pandemic. Consequently, their products could become more expensive this year, warns Ion Paunel, a founding member of the Save the Romanian Peasant Union (USTR).

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78.2% of Romanian households had internet access in 2020

78.2% of Romania's households have access to the home internet networks, up 2.5 percentage points compared to the previous year, while 85.9% of all individuals age 16-74 had used the internet at least once, up 3.6 percentage points from the previous year, according to data published by the National Statistics Institute (INS) on Friday.

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Unemployment rate down 0.2 pp in November

The unemployment rate reached 5.1% in November, down 0.2 percentage points compared to the previous month. The unemployment rate for men was 0.5 percentage points higher compared to women. The estimated number of unemployed (aged 15 to 74) was 462,000 individuals, down from the previous month (477,000 people).

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Financial News (3)

BNR suspends monetary policy meeting schedule over uncertainties

"Given the high degree of uncertainty from economic and financial events, the BNR board has decided to suspend the monetary policy meeting schedule, with meetings taking place whenever necessary," according to an announcement published by the National Bank of Romania (BNR). The first monetary policy meeting of this year was supposed to take place last Friday, but was suspended.

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RON-denominated mortgages reached new high in November

Romanians took out new RON-denominated mortgages worth over RON 1.47 billion in November, 2020, the highest figure since the RON 1.48 billion recorded in October, 2019. October (RON 1.36 billion) and July (1.29 billion) were among last year's best months for mortgage borrowing.

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ROBOR pushed down by improved market liquidity

The decline on the money market index, ROBOR, is mainly the result of an improved liquidity situation, but also a recognition by the market that last year's tensions have fallen sharply, according to Cristian Popa, a member of the Board of Directors at the National Bank of Romania (BNR). The investors' outlook for the Romanian economy has improved significantly lately.

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Legislative News (2)

ANAF to have access to all accounts

At the request of the business community, the National Fiscal Administration Agency (ANAF) has postponed the operationalization of the Central Electronic Registry for bank accounts and payment accounts identified via IBAN, which was scheduled for January 4.

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MFP decided to maintain advantageous fiscal facilities

The Ministry of Finance (MFP) has decided to maintain some advantageous tax facilities. Taxpayers who were behind on their tax payments on March 31, 2020, can apply for the waiving of interest and late charges until March 31, 2021. Another tax facility maintained by the MFP is the simplified rescheduling, granted for amounts exceeding RON 500 for private individuals, and RON 5,000 for legal entities.

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Politics (1)

Cristian Ghinea: I don't want to see competition between Dan Barna and Dacian Ciolos

Cristian Ghinea, vice-president of USR, said he would rather not see an internal competition between Dan Barna and Dacian Ciolos for the party leadership. Ghinea said the two are "natural leaders" of the USR-PLUS alliance.

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Social (1)

Health Minister says 1.3 million to be vaccinated by early April

The Minister of Health, Vlad Voiculescu, stated on Friday evening that the stock of vaccines is limited. Nevertheless, Voiculescu expects 1.3 million Romanians to be vaccinated by early April.

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