News

Daily Newsletter - 2 March 2021

Summary

FIC Daily Newsletter | 02.03.2021
 Macroeconomic (3) || Financial (2) || Investment (2) || Legislative (1) || European News (1) || Social (2)
A debate on the state budget took place yesterday
The Chamber of Deputies and the Senate met in a joint sitting yesterday to debate the draft state budget law and the draft social security budget law for 2021. Prime Minister Florin Cîțu made several ironical statements about the Social Democratic (PSD) MPs, having told the latter to take a pencil and a piece of paper and take notes from his presentation of this year’s budget.
Total value of working capital grants paid by Government to SMEs has increased
The total value of working capital grants paid by the Government to SMEs that registered in Measure 2 grew to RON 1.052 billion at the end of last week, from RON 1.028 billion one week before. The total value of paid microgrants (Measure 1) reached RON 165.4 million. The Ministry of Economy paid 17,093 micro-grants worth EUR 2,000 each and 3,009 working capital grants (of up to EUR 150,000).
Number of trading companies and PFAs to have faced insolvency decreased
The number of trading companies and authorized natural persons (PFA) to have faced insolvency decreased by 31.75% in January 2021, compared to the first month of 2020, 316 insolvencies having been recorded, according to the data published on the National Trade Register Office (ONRC)’s website. The most companies and PFAs to have become insolvent were recorded in Bucharest, namely 60, down by 25% against January last year.
NBR’s foreign exchange reserves have decreased
The National Bank of Romania’s foreign exchange reserves stood at EUR 35.139 billion on 28 February 2021, compared to EUR 37.454 billion on 31 January 2021. EUR 2.557 billion inflows were recorded last month, representing credit institutions’ modified foreign currency-denominated minimum reserve requirements, sums that entered the Finance Ministry’s accounts and others. Moreover, EUR 4.872 billion outflows were recorded in February 2021.
Revolut launches banking operations in Romania
Revolut has announced the operationalization of its banking license in Romania, according to a press release. Users in Romania can now opt for the transfer to Revolut Bank in order to benefit from additional services through the application. The transfer process only takes several minutes to be completed.
Electrica group’s Board of Directors approved RON 712.4 million investments in 2021
On Friday, Electrica’s Board of Directors approved the consolidated value of the group’s Investment Plan for 2021, worth RON 712.4 million. RON 638.9 million thus represents Distributie Energie Electrica Romania S.A. distribution branch’s annual financial plan for 2021. As to investments (the financial part of the individual investment plan), Electrica Furnizare S.A.’s annual financial plan for 2021 stands at RON 51.2 million, and RON 11.6 million is the value of Electrica Serv S.A.’s annual financial plan in 2021.
Bucharest Properties REIT has finalized the second phase of Vitan Estates real estate complex
The company with US shareholding Bucharest Properties REIT has finalized the second phase of Vitan Estates real estate complex. Since February, the complex has included two more A-class 11-storey buildings, developed following an over EUR 10 million investment. A number of 156 fully furnished and properly equipped studios and apartments are thus available for rent, and the total investment in this project amounts to over EUR 20 million.
Government adopted a draft decision amending several provisions of the Administrative Code
During yesterday’s meeting, the Government adopted a draft decision amending and completing Decision 906/2020 regarding the enforcement of several provisions of Emergency Ordinance 57/2019 on the Administrative Code. The normative act establishes the attributions of prefects, sub-prefects, and prefect institutions’ secretaries general. Moreover, a draft decision on sectors, crops and animal species which coupled support will be granted for in 2021 and 2022 was also adopted during yesterday’s government meeting.
EU’s proposal for the vaccination certificate to be presented by the end of March
The European Commission is to present its plans for a “digital green pass”, an EU-wide digital certificate providing proof of Covid-19 vaccination, in March, European Commission President Ursula von der Leyen announced yesterday. The states that depend on tourism want the adoption of such a document to be accelerated in order to save their summer season.
General population can get an appointment for anti-Covid-19 vaccination after 15 March
Persons included in the third stage of the anti-Covid-19 vaccination campaign, namely adults aged 18-55 without any chronic diseases that make them vulnerable in case of getting infected with the novel coronavirus, can get an appointment on the vaccination platform after 15 March. The immunization of this category of the population will most likely start in April, according to Valeriu Gheorghiţă, the coordinator of the national anti-Covid-19 immunization campaign.