FIC launched the 2022 edition of Va Urma (https://vaurma.ro) with the
participation of the Prime Minister of Romania, Mr. Nicolae Ciuca,
together with members of the Government and Parliament, international
institutions, and economic leaders. The "Va Urma" project represents an
economic development model with a vision for the next 20 years, updated
to take account of the latest events at global level. The event was a
first step in setting country directions agreed and supported by the
authorities, representative international institutions, and the
business environment. The participants agreed on ten long-term measures
and several quick wins for boosting the future economy based on
investments, energy mix, digitalization, human capital and institional
capacity.
Government’s gross financing needs for 2022 have been revised to about
RON 148.6 billion, based on the projected level of the budget deficit
of 5.8% of GDP (about RON 80.1 billion), following the budget
adjustment approved through Government Ordinance 19/2022 on the 2022
state budget adjustment, as well as on the volume of debt to be
refinanced in 2022, of about RON 68.5 billion. According to the cited
sources, the additional net financing as a result of the budget
adjustment (budget deficit) will be ensured from internal sources.
Total industry turnover (domestic and external market) decreased by
2.4% in nominal terms in July 2022, compared to June 2022, and grew by
24.1% year-on-year, according to the National Institute of Statistics
(INS). By major industry groups, advances were recorded in the energy
industry (+140.1%), in the capital goods industry (+19.2%), the
non-durable goods industry (+17.9%), in the intermediate goods industry
(+16.6%), and in the durable goods industry (+10.7%).
Industrial production fell by 1.3% as a gross series in the first seven
months of 2022, compared to the similar period of 2021, while July
brought a 3.1% decline, according to data made available by the
National Institute of Statistics (INS). Industrial production as a
working days and seasonally adjusted series, dropped 2.2% in the first
seven months of 2022 and 0.9% in July. The decline in July was of 1.9%
as a gross series and of 0.3% as an adjusted series compared to June
2022.
New orders in the manufacturing industry grew by 18.5% in nominal terms
during the period 1 January - 31 July 2022, compared to the similar
period of 2021, according to data published by the National Institute
of Statistics (INS) on Wednesday, 14 September. The official statistics
indicate that new orders in the manufacturing industry were boosted by
the advances recorded in the intermediate goods industry (+26%), the
durable goods industry (+20.9%), the non-durable goods industry (+19%)
and the capital goods industry (+14%) during the aforementioned
interval.
Daniela Elena Pene remains a member of insurance company Generali
Romania’s Board of Directors, after having received the Financial
Supervisory Authority (ASF)’s approval, according to the information
transmitted by ASF. In addition to being a member of Generali’s Board
of Directors, Daniela Elena Pene is also the head of the company’s
sales and marketing department. She has held this office for more than
eight years.
Euroins Romania, the new leader of the insurance market following the
collapse of City Insurance, is to increase its share capital by RON
55.8 million, by issuing new shares in exchange for cash contributions,
according to the information published in Euroins shareholders’ notice
to attend, in the Official Gazette of Romania. The General Meeting of
Shareholders will take place on 29 September 2022, when the new share
capital increase will be approved. Euroins had last increased its share
capital at the beginning of August, by RON 44.7 million, representing
the compensation of some receivables in euro the majority shareholder
Euroins Insurance Group had against Euroins Romania.
The Development Bank of Romania (BDR) can start operating after
obtaining the state aid authorization decision from the European
Commission and the operating permit from the National Bank of Romania,
according to a draft Government Decision published by the Ministry of
Finance. The bank’s initial share capital subscribed by the
shareholder, through the Ministry of Finance, is of up to RON 3
billion, which will be ensured from the privatization proceeds, except
for the amount representing the equivalent of EUR 10 million, which
will be paid from the state budget. BDR will need to attract external
sources of financing in order to expand its operations.
OTP Bank Romania has announced the establishment of a department
dedicated to sustainability, which will coordinate the bank’s
transformation process through actions required to implement the ESG
(environmental, social, governance) strategy. In the first half of
2022, OTP Bank announced its commitment to the definition and
implementation of an ESG strategy and a framework aimed at integrating
sustainability best practices into the organization, with the ultimate
goal of ensuring the bank’s real positive impact in facilitating the
transition to a low-carbon economy and improving the quality of living
for current and future generations.
TeraPlast Group, the biggest Romanian building materials manufacturer,
has launched an investments program targeting energy efficiency and
environmental protection. The company thus plans to invest RON 24
million in photovoltaic panels and to increase the total area of its
production units covered with photovoltaic modules, by building a new
photovoltaic plant, in 2022, according to TeraPlast CEO Alexandru
Stânean.
On Wednesday, 14 September 2022, Development Minister Cseke Attila
participated in the signing of the execution contract for the
rehabilitation, consolidation, modernization, expansion and equipping
of the Romanian Academy’s historical headquarters and for the
construction of a new building (auditorium). The contract has a total
value of RON 152,736,390.13 million, which will be covered by the
Ministry of Development, through the National Investment Company (CNI).
Photon Energy, a Dutch group activating in the field of renewable
energy, has started construction works on the seventh photovoltaic
power plant in Romania, with a production capacity of 7.1 MWp, located
near Săhăteni locality in Buzău County. The plant will spread on over
10 hectares of land, will include 12,700 solar panels, and will supply
approximately 11.4 GWh of renewable energy annually to the SDEE
Electrica Muntenia Nord grid.
The Social Democratic Party (PSD) has proposed in Parliament several
amendments to the Government Emergency Ordinance (OUG) on the capping
and compensation of energy prices, two weeks after the OUG had been
adopted in the Government. According to the amendments submitted by
PSD, household consumers who exceed the ceiling set by the government,
of 255 kWh for electricity will pay a price of RON 0.8/kWh for the 255
kWh, and will only pay the full price for the amount exceeding this
ceiling.
A draft law submitted to the Chamber of Deputies by PNL deputies George
Tuță and Sebastian Burduja proposes that citizens or companies can
receive the criminal record free of charge and in electronic format
from state institutions. The two MPs’ proposal completes Law 290/2004
on criminal records. If approved, within three months of the law
entering into force, a joint order of the Minister of the Interior and
of the Minister of Research, Innovation and Digitalization will
establish the procedures for issuing criminal records in electronic
format.
The draft law banning the purchase and use, by Romanian state
institutions, of antivirus products and services from entities in the
Russian Federation was debated during the Government meeting on
Wednesday, 14 September 2022. Amid the war in Ukraine, the draft law
establishes the legal and institutional framework to prohibit the
purchase and use, by central and local public authorities and
institutions, of anti-virus software products and services originating
directly or indirectly from Russia or from an economic operator under
the direct or indirect control of a natural or legal entity from the
Russian Federation. The violation of these provisions constitutes an
offence and shall be sanctioned with fines ranging from RON 50,000 to
RON 200,000.
The Senate, reunited in a plenary meeting on Wednesday, 14 September,
amended the law on the enforcement of the Convention on the Civil
Aspects of International Child Abduction, making it compulsory for the
court to hear a minor who has reached the age of 10. The draft law,
initiated by the Government, brings some clarifications regarding the
authorities involved in the return procedure and the exercise of rights
of access. Free legal aid in the form of a lawyer is granted only by
the Bucharest Bar Association, and, in the enforcement phase, the
competent court to grant public legal aid is the enforcement court.
European Commission President Ursula von der Leyen delivers her annual
State of the European Union address on Wednesday, 14 September,
outlining policy priorities for the next 12 months at a time of
increasingly serious challenges for her "geopolitical Commission".
Speaking in the European Parliament, Von der Leyen is expected to
present plans for steering the bloc through the coming winter in the
face of shrinking energy supply and falling living standards while
maintaining plans to press ahead with the green and digital transition.
Her eagerly awaited speech comes in the context of increasing hardship
across Europe, with rising prices, shortages of energy, and possibly
also food, underpinned by the ongoing war in Ukraine, casting a dark
shadow over the continent’s immediate future.
On Wednesday, 14 September, Family Minister Gabriela Firea announced
the launch of a health education pilot project for girls in the care of
the state, through which they will get information from doctors and
specialists about their own bodies, what early pregnancy means and how
it can be prevented. Gabriela Firea indicated, in a Facebook post that
underage mothers were a reality in Romania, with 16,500 teenage girls
under 19 who gave birth in 2021 alone, according to the National
Institute of Statistics.
Education Minister Sorin Cîmpeanu stated during the Government meeting
on Wednesday, 14 September 2022, that the Government would increase the
sum allocated for the first prize in the national Olympics from RON 22
to RON 600 per student, and the sum allocated for students who win gold
medals in international Olympics to RON 20,000. The Minister also
announced that the government meeting’s agenda also included a
government decision and an emergency ordinance extending the "Warm
Meal" program by another 50 schools.
84.5% of the companies participating in the latest survey conducted by
eJobs Romania say that they offer fringe benefits to their employees
and that these remain an important criterion for candidates when
choosing their employer. Food vouchers are most frequently included in
the benefits package, with 77.1% of employers saying they include them.
They are followed by holiday bonuses, offered by 68.6% of respondents,
health insurance subscriptions to private clinics (55.7%) and extra
days off (41.4%). 40% offer employees access to professional
specialization training, 34.3% organize annual team parties or
teambuilding gatherings, 31.4% pay for transport and 30% offer gift
vouchers.