Daily Newsletter - 14 September 2021


Macroeconomic (3)
Financial (2)
Investment (2)
Legislative (1)
European News (1)
Social (3)
Government borrowed RON 431 million from banks
On Monday, 13 September, the Ministry of Finance borrowed RON 431 million through a bonds issue due in 2029, at a 3.64% annual interest rate. Seven primary dealers participated in the auction. The total value of demand stood at RON 831 million, of which non-competitive offers amounted to RON 1.8 million, and competitive ones totalled RON 829 million. Of the granted sum, banks offered RON 424.2 million on their own behalf, and RON 5 million on clients’ behalf.
Annual inflation rate grew to 5.3% in August 2021
Annual inflation rate grew to 5.3% in August 2021, from 5% in July. Prices of non-food products increased by 7.92%, those of food products were up 2.7%, and services were 2.97% more expensive, according to data published by the National Institute of Statistics (INS) on Friday, 10 September. INS data also indicate that consumer prices rose 0.2% in August 2021 compared to July 2021. Inflation rate since the beginning of the year (August 2021 compared to December 2020) has reached 4.7%.
Romania’s total external debt grew by EUR 6.05 billion in the first seven months of 2021
Romania’s total external debt, both public and private, grew by EUR 6.05 billion during the period January-July 2021, to a total of EUR 131.98 billion. Of this sum, the direct public debt represented EUR 60.2 billion, up by EUR 2.94 billion against the end of last year, when it stood at EUR 57.3 billion, according to data published by the National Bank of Romania (NBR) on Monday. Of the total volume, long-term external debt amounted to EUR 95.9 billion on 31 May 2021, representing 72.7% of total external debt, up by 3.3% compared to 31 December 2020, and the short-term external debt was EUR 36.05 billion (27.3% of the total external debt), having recorded an 8.9% advance compared to the end of last year.
Fiscal Code 2021, the updated version, has been published by ANAF
The National Agency for Fiscal Administration (ANAF) published the updated version of the Fiscal Code and its application norms on the institution’s website on 9 September 2021. The new version includes the latest annotations and all the orders issued by ANAF and by the Ministry of Public Finance until 3 September 2021.
Current account deficit increased to EUR 9.05 billion during the period January-July
The current account deficit increased to EUR 9.05 billion during the period January-July, compared to EUR 5.35 billion, the level recorded in the similar interval of 2020, an advance mainly generated by the growing imbalance in the balance of goods and of primary income. According to NBR data, Romania had a RON 12.7 billion deficit corresponding to the international trade in goods at the end of July, up by EUR 2.3 billion year-on-year.
Soceram Câmpina has invested over EUR 20 million in a plant in Cordun locality
Building materials manufacturer Soceram Câmpina has started production in a new autoclaved aerated concrete (AAC) plant, located in Cordun locality from Neamţ County, according to the information available on the company’s website. Construction works lasted about three years and involved over a hundred people, Ovidiu Crăciun, an engineer at Soceram, indicated in a film presenting the new plant, posted in August 2021. The investment exceeded EUR 20 million, Liviu Găină, a mechanical maintenance manager, pointed out in the same presentation film.
Real estate developer Element Industrial to start works on ELI Park Brăila logistics project
Real estate developer Element Industrial announced on Monday, 13 September, that it would start works on the ELI Park Brăila logistics project, an over EUR 25 million investment, on an 11-hectare land in Brăila Free Trade Zone. The concept from Brăila is a flexible and modular one, adapted to demand in the area. The minimum leasable units thus start from 850 square meters, each being served by a dock and a drive-in, an office area and dedicated parking spaces.
Labor Ministry has announced new measures for people with guaranteed minimum income
The Ministry of Labor and Social Protection announced on Monday, 13 September, that it would introduce new support measures for the training and employment of people who benefit from a guaranteed minimum income, as well as of young people. The institution has drawn up a draft Government Emergency Ordinance (OUG) which stipulates, among other things, that social assistance shall be maintained for another six months if the beneficiary is employed for a period of minimum 24 months. If the employment contract is terminated due to the beneficiary’s fault, the latter will have to return the money. Moreover, social assistance beneficiaries shall have to come to the County Employment Agency (AJOFM) every six months.
European News 
Dacian Ciolos will resign from Renew Europe presidency if he becomes president of USR PLUS
Former EU Commissioner Dacian Ciolos stated on Friday, 10 September, that he would resign from the presidency of the Renew Europe group in the EU Parliament if he became president of the party USR PLUS. Cioloş mentioned that his mandate as a leader of the Renew group was valid until the end of 2021, given that elections are held every two and a half years in each European Parliament group.
Mayor of Bucharest Nicuşor Dan says that financial incentives will continue to be paid
The General Mayor of Bucharest Nicusor Dan has stated that financial incentives for new-born babies and for adults with disabilities, as well as the "Materna" vouchers will continue to be paid and that the announcement on this topic published on Bucharest Social Assistance General Directorate’s website does not match the reality. An announcement had been published on Bucharest Social Assistance General Directorate’s website, saying that newly submitted applications for incentives would no longer be processed starting from 13 September.
Average number of pensioners decreased by 14,000 people in Q2/2021
The National Institute of Statistics announced on Monday that the average number of pensioners had stood at 5.085 million in Q2/2021, down by 14,000 people compared to the previous quarter, while the average monthly pension had been RON 1,661, up by 0.7% against Q1/2021. The average social security pension amounted to RON 1,601, and the ratio between the average net nominal social security pension for age limit with a full contribution period (excluding the taxes and the contribution to the public health insurance system) and the average net wage was of 3.2% (compared to 54.6% in the previous quarter).
Over 200 schools do not have an isolation room for students who show symptoms of illness
Education Minister Sorin Cîmpeanu has stated that there are 200 schools at national level which do not have an isolation room for students who show symptoms of illness, in order to keep them away from the other students until they receive a diagnosis. Moreover, among the seismically verified buildings, 101 fit in the first seismic risk class, another nearly 500 were classified as second seismic risk class buildings, while many others have not been verified yet. On the first day of the school year, Minister Cîmpeanu also spoke about the schools that lack indoor toilets, pointing out that less than half of the EUR 40 million allocated to those schools in the Education Ministry’s budget had been used in 2020.