News

Daily Newsletter - 2 February 2021

Summary

Macroeconomic News (5)

Citu: The budget will be slightly late

Prime Minister Florin Citu said on Monday that the adoption of the draft state budget by the Cabinet will be delayed for a few more days, as he expects the ministers to put forward proposals for reforming the state companies under their control. The PM stressed the fact that, if no solutions are found, he will use budget limits to force reforms.

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INS: Unemployment rate down

The unemployment rate reached to 4.9% in December, 2020, down 0.2 percentage points compared to the previous month (5.1%), according to data published by the National Statistics Institute (INS) on Monday. The number of unemployed individuals aged 15 to 74 estimated for December was 450,000, down from the previous month's 462,000.

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PNNR eligible expenses are those made after February 1

The National Recovery and Resilience Plan (PNRR) must be completed by the end of April 2021, while the reforms and projects included in this Plan must be implemented by the end of 2026, according to Marius Vasiliu, Secretary of State with the Ministry of Investment and European Projects (MIPE). MIPE organized, on Monday, the first technical consultations for updating the National Recovery and Resilience Plan (PNRR), which focused on Transport, Environment, Climate Change, Energy, and Energy Efficiency. The meeting was attended by representatives of ministries and agencies involved.

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MFP to borrow RON 5.2 billion this month

The Ministry of Finance (MFP) plans to borrow RON 4.6 billion from the commercial banks this month. RON 600 million will be borrowed through an issue of discounted treasury certificates, while the bulk of funding will come from seven issues of state bonds. Another RON 600 million could be raised through additional sessions of non-competitive bids.

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Organic agriculture acreage rising

Romania ranked last in the European Union in terms of certified land area for organic farming, according to a Eurostat report based on data from 2019. However, Romania has since risen in the ranking, overtaking Bulgaria, Ireland and Malta in organic farming acreage.

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Financial News (3)

Banca Transilvania: We will continue to promote instant payments as more banks join the system

"From a customer perspective, the efficiency of the system increases with the number of partner banks joining the platform." Instant interbank payments are a normal situation, according to Banca Transilvania, which has joined this system since its launching in April, 2019.

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Romanian companies affected by pandemic can benefit from additional financing

The European Investment Bank announced on Monday that it would cooperate with the European Investment Fund and Deutsche Leasing Romania to offer Romanian companies affected by the pandemic the chance to tap additional leasing financing amounting to EUR 370 million. The purpose of the funds is to help consolidate the investments made by local companies in industries affected by COVID-19.

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BNR reserves reached EUR 37.45 billion

The foreign currency reserves managed by the National Bank of Romania (BNR) stood at EUR 37.45 billion on January 31, up from EUR 37.37 billion at the end of December, 2020. January inflows amounted to EUR 1.38 billion.

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Investment News (1)

EUR 32 million modernization project for Oradea's heating system

Oradea City Hall has gained access to RON 157.6 million (approximately EUR 32.4 million) to increase the competitiveness and efficiency of the entire district heating system in the city. The project is part of the "District Heating" government program. The funding program is managed by the Ministry of Development, Public Works and Administration (MDLPA).

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Politics (2)

Ludovic Orban runs for new term as party leader

Ludovic Orban announced yesterday that he is planning to run for a new term as leader of the National Liberal Party (PNL). "I informed my colleagues, because there has been quite a lot of speculation on this issue, that I have this intention," said Orban.

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PSD to file simple motion against Health Minister

The Social Democrats intend to file a simple motion against Health Minister Vlad Voiculescu next week. Subsequently, the leader of PSD senators, Lucian Romascanu, said the party will use every means at its disposal to take action against the Minister of Health.

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Social (1)

Health Ministry has final say so on school reopening

Schools will reopen at the beginning of the second semester, on February 8. The decision will be reviewed on February 2, depending on the infection rate in each town. Education Minister Sorin Cimpeanu maintains that the final decision belongs to the Ministry of Health.

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