Daily Newsletter - 14 November 2017


Macroeconomic News (3)

Direct foreign investments, 1.36% higher in the first nine months of the year (Source:; Date: 2017-11-13; Author: Unspecified)

"The direct investments of non-residents in Romania cumulated 3.352bn euros (compared to 3.307bn euros between January-September 2016), out of which equity participation (including the net estimated reinvested profit) totaled 3.238bn euros, while intra-group loans reached 114m euros", the NBR communication shows.


INS: Industrial production fell 0.7% in September 2017 (Source:; Date: 2017-11-13; Author: Unspecified)

Industrial production rose 16.5% in September compared to the previous month in unadjusted terms and fell 0.7% in adjusted terms in the number of working days and seasonality, according to the National Institute of Statistics (INS). Compared to the corresponding month of last year, industrial production rose 4.2% in unadjusted terms and 7.6% in adjusted terms in the number of working days and seasonality.


CFA Romania: Reduction of contribution to Pillar II cuts the future pensioners' earnings significantly (Source:; Date: 2017-11-13; Author: Unspecified)

CFA Romania, the organization of financial analysts, disapproves the Government's decision to diminish the compulsory contribution to privately administered pension funds Pillar II from 5.1% at present at 3.75% as of 2018, contending that lowering the contribution in relative value leads to the significant decrease in the future pensioners' incomes. has recently recounted in detail that the reduction of the private pension share and the transfer of contributions cuts the future private pensions for almost every employee by 21%, minus RON 58,041.


Financial News (5)

Valentin Lazea, NBR: Romania risks to miss 3 of the 5 main criteria for membership of the euro zone (Source:; Date: 2017-11-13; Author: Unspecified)

Romania risks to compromise three of the most important criteria for membership of the euro zone: consolidated budget deficit, inflation and long-term interests, according to Valentin Lazea, the chief economist of the National Bank of Romania. The three criteria may no longer be fulfilled as of next year, Valentin Lazea said at a conference on "Romania and accession to euro zone", organized by the European Institute of Romania and the Ministry of External Affairs.


3-month Robor rose to 1.89% (Source:; Date: 2017-11-13; Author: Unspecified)

Dan Suciu, the spokesman of the National Bank of Romania (NBR), answered the public questions of Adrian Dobre, state secretary, PSD spokesman, linked to NBR activity in the evening of 9 November, that the reduction of compulsory minimum reserves in foreign currency, made by NBR in May, could not influence the level of Robor interests in lei, in October, according to a press release sent to the Editorial Office. Also, Suciu mentioned that beyond the time difference, the two components are, as it is seen, in different currencies and have different roles in lending.


OTP Bank reported a RON 18m profit in Q3, above the cumulated revenue of the first two quarters (Source:; Date: 2017-11-13; Author: Unspecified)

OTP Bank, the local branch of the largest banking group in Hungary, recorded an about RON 18m in the third quarter of this year, a level above the net profit cumulated in the first six months of the year, the data published in Budapest show. In total, the profit corresponding to January-September period amounted to RON 31m, down 5% compared to the same period of last year.


Euro has reached a record level, nearly RON 4.65, above the level of August 2012 (Source:; Date: 2017-11-13; Author: Unspecified)

The National Bank of Romania (NBR) announced Monday a reference exchange rate of RON 4.6495/euro, a record level, above that of August 2012, against the backdrop of the increase in social and political tensions, of the announcement about inflation growth and of the data about the rise in commercial deficit.


Banca Transilvania, higher profit due to the decrease in risk provision costs. Last year, the bank removed bad loans worth RON 1.7bn from the balance sheet (Source:; Date: 2017-11-13; Author: Unspecified)

The net profit of Banca Transilvania is RON 780m after the first nine months of this year, up 18.7% compared to the same period in 2016. The bank records lower operational returns and higher expenses, so that the higher net profit was ensured by the over 90% reduction of loan provisions. Banca Transilvania Financial Group (the second in size in Romania after BCR), which includes the bank and the non-banking financial institutions, has a RON 829m profit, 18.8% higher than the result recorded in late September last year. In late June, BT registered a RON 496m net income at the level of the bank and RON 513m at the level of the Group.


Investment News (1)

Lidl continues investments in Romania and builds its fifth logistic center in Romania (Source:; Date: 2017-11-13; Author: Unspecified)

Lidl continues the expansion process locally and builds a new logistic center, in Cordun, near Roman town, the new warehouse having to supply the chain from Moldova area. The company has warehouses in Chiajna, Nedelea (near Ploiesti), Iernut (near Targu-Mures) and Lugoj, center opened last year following some about 20m euros investments.


Legislative News (1)

USR has submitted a package of laws targeting the reduction of threshold in all types of elections, as well as a lower number of signatures for submitting candidatures (Source:; Date: 2017-11-13; Author: Unspecified)

USR has submitted to the Parliament a set of proposals targeting the amendment of the electoral legislation, the reduction of the electoral threshold for all types of elections as well as reduction of the number of signatures needed for registering a candidature being among the proposed measures. USR representatives consider these measures will lead to a "renewal of the political class", necessary for the society.


Politics (2)

Kovesi, summoned again at the parliamentary investigation commission on 2009's elections (Source:; Date: 2017-11-13; Author: Unspecified)

The members of the parliamentary investigation commission on 2009's presidential elections decided Monday to summon DNA chief prosecutor, Laura Codruta Kovesi, again for hearings. "Mrs. Kovesi's hearing will take place, in principle, regarding that Mr. Videanu's hearing is already scheduled for Wednesday morning, I think also Wednesday morning, around 9-9.30", the head of the investigation commission, Oana Florea, said at the Palace of Parliament.


Liviu Dragnea's prosecution: Florin Iordache defends his boss, Calin Popescu Tariceanu defends his coalition (Source:; Date: 2017-11-13; Author: Unspecified)

PSD and its main ally in the government, ALDE, consider Liviu Dragnea must continue his political activity and back one of the most important titles in the state, that of head of the Chamber of Deputies, even if DNA announced Monday, officially, that the PSD leader had been accused officially in a new corruption file. "Presumption of innocence" is the main argument used by Liviu Dragnea's supporters.