Daily Newsletter
14 August 2018
Summary
Macroeconomic News (2) |
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Current account deficit up 7.23% in H1
Data released by the National Bank of Romania (BNR) showed a current account deficit of EUR 3.78 billion for the first half of this year, up 7.23% on an annual basis. The trade deficit reported for the corresponding period of 2017 was EUR 3.5 billion. The goods balance deficit amounted to EUR 5.8 billion, up EUR 711 million. Top |
Annual inflation rate drops to 4.6% in July
The annual inflation rate dropped to 4.6% in July, compared to 5.4% the previous month, according to data released by the National Statistics Institute (INS). The National Bank of Romania (BNR) revised downward the inflation forecast for this year, from 3.6% to 3.5%, according to the announcement made by Governor Mugur Isarescu last week. Top |
Financial News (3) |
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Banca Transilvania posts RON 662.7 million in H1 earnings
Banca Transilvania, the second biggest bank on the national market, posted RON 662.7 million in earnings for the first half of the year, up almost 34% year-on-year. This is the highest six-month earnings figure reported by the Cluj-based bank in a decade. The figure was influenced by a 9% increase in lending. The operating revenues amounted to RON 1.42 billion, up 13.5% year-on-year. Top |
OTP Romania reported RON 20.3 million in earnings for the first six months of this year, up 59% year-on-year, according to data released in Budapest yesterday. The significant increase in earnings came from the first quarter, given that the rising loss-risk provisions pushed the bank into the red in the second quarter. Top |
The three-month ROBOR rate dropped to 3.28%, the lowest figure since July 3, 2018. The six-month rate dropped to 3.43%. Top |
Investment News (1) |
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Foreign direct investment dropped 29.44% in the first six months of this year, reaching a total of EUR 2.1 billion, according to the National Bank of Romania (BNR). Equity investment, including reinvested profits, amounted to EUR 2.25 billion, while intra-group loans contracted by EUR 64 million. Top |
Politics (2) |
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President Iohannis demands swift identification and punishment of culprits
President Klaus Iohannis has called on the Social Democratic Party (PSD) to "take these days' protests very seriously and to understand they are supposed to govern in the people's interest, not against it". The President also urged the civil society to not lose heart. Top |
PSD blames social tensions on president
The Social Democratic Party (PSD) issued a press release referring to the President as "Iohannis the Divider" and blaming the "environment of profound hostility to the democratically elected power" on the President. The PSD accused the President of having encouraged "the anarchistic protests", thus leading to violence. Top |
Social (1) |
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First swine fever outbreaks eliminated
The National Veterinary Sanitation and Food Safety Authority (ANSVSA) announced on Monday that it had managed to eliminate the swine fever outbreak in a Satu Mare county commune. The outbreak was detected in early January, with four households being involved. Top |