Unemployment rate grew by 0.1% in July month-on-month, to 5.1%,
according to data published by the National Institute of Statistics
(INS) on Wednesday. INS revised the Household Labor Force Survey’s
methodology in order to comply with the new European regulations that
entered into force on 1 January 2021. There were 12,000 more unemployed
in July than in June. Practically, the INS no longer includes people
who produce agricultural goods intended exclusively or mostly for
private consumption among the employed population. The unemployment
rate among men was 0.7% higher than in women.
The arrears of the general consolidated budget grew by 4.6% in July
2021, compared to the previous month, to RON 269.69 million, from RON
257.84 million in June, according to the data published on the Finance
Ministry’s website. 90+ day arrears increased by 20.5%, from RON 59
million to RON 71.1 million. Moreover, 120+ day arrears were up 0.2%
month-on-month, from RON 108.1 million in June to RON 108.3 million in
July, and the 360+ day ones slightly decreased, from RON 90.7 million
to RON 90.4 million (minus 0.3%). Local budgets’ arrears rose 4.14%,
from RON 241.34 million in June to RON 251.35 million in July.
Erste Bank Hungary’s investment subsidiary, Erste Befektetési, is
acquiring Hungary’s Random Capital, a ten-year-old online brokerage
company, known for its innovative trading solutions, according to the
information transmitted by Erste representatives. With the acquisition
approved by the National Bank of Hungary, set to close over the coming
weeks, Random Capital’s nearly 22,000 securities accounts and about EUR
200 million in savings will be transferred to Erste Bank Hungary.
BCR Leasing IFN has launched a green car leasing product for companies
interested in purchasing new electric and hybrid cars. BCR Leasing’s
offer has been developed in order to boost sustainable investments and
offers entrepreneurs many advantages, from an up to five-year financing
period, to a down-payment starting from 10% of the car’s price and a
variable interest rate in euros of 1.9% per year.
The National Bank of Romania (NBR)’s foreign exchange reserves grew by
EUR 2.6 billion in August, to EUR 41.6 billion, following EUR 3.34
billion inflows and EUR 735 million outflows in June. The EUR 3.34
billion inflows came from changes in credit institutions’
foreign-currency denominated reserves with the NBR, inflows into the
Ministry of Finance’s accounts, the crediting of Romania’s Special
Drawing Rights (SDR) account following the IMF’s new general allocation
on 23 August 2021, inflows into the European Commission’s account and
other, according to data transmitted by NBR on Wednesday.
The total number of cards issued in Romania stood at 19,201,775 at the
end of Q2/2021, up by 1.4% quarter-on-quarter, according to data
centralized by the National Bank of Romania. According to the
aforementioned source, of this total, 14,875,692 cards (77.47%) were
active ones, compared to 14,592,364, at the end of March. A number of
16,202,595 cards had a debit function and 2,889,638 had a credit
Grande Gloria Production has obtained nearly EUR 1 million financing
from Raiffeisen Bank, with the guarantee offered by Eximbank, within
the COVID-19 state aid scheme, dedicated to large companies, according
to the information transmitted by Raiffeisen representatives. The funds
will be used for the acquisition of new equipment necessary for the
development of the company’s production activity.
Radu Apostolescu, one of the founders of the online retailer eMAG,
together with his wife Monica Apostolescu invested over EUR 3.2 million
in the Clario ophthalmology clinic, established in Bucharest in 2015.
They plan to further develop the Clario brand, which has attracted more
than 20,000 unique patients in five years of activity. Clario recorded
an approximately EUR 50,000 turnover in 2020 and the target for 2021 is
to double this result, and thus reach EUR 1 million.
On Wednesday, 1 September, the Ombudsman challenged, at the
Constitutional Court of Romania, the Government Emergency Ordinance
(OUG) 50/2021 regarding the settlement of students’ commute. The
Ombudsman considers that there are some extrinsic unconstitutional
aspects, as the Economic and Social Council’s opinion had not been
requested, but also intrinsic unconstitutional ones, as the settlement
is conditional on the existence of a public transport service, which
cannot be guaranteed, but also on certain distance and sum limitations.
The use of certain fluorescent and halogen light bulbs has been banned
since Wednesday, 1 September, as new ecodesign and labelling rules come
into force across the European Union. Banning the use of these products
will help protect the environment. Moreover, the new rule imposed by
the European Commission will generate important changes that will lead
to a reduction in carbon dioxide emissions.
The main reasons for concern of Romanians part of the Millennials and Z
Generations are education and personal and professional skills
development (37% of Millennials and 38% of those in Generation Z), the
level of corruption in business and politics (35% and 30% respectively)
and environmental protection (29% and 27%, respectively), according to
the Deloitte Global Millennial and Gen Z Survey 2021, conducted in 45
countries around the world, including Romania. These differ greatly
from the global results, according to which Millennials’ biggest
concerns are related to health status (28%), unemployment (27%) and
environmental protection (26%), while those part of Generation Z put
environmental protection first (26%), followed by unemployment (25%)
and disease prevention.
Labor Minister Raluca Turcan has announced that the formula used for
calculating pensions will be modified and the new method will be
announced at the beginning of 2023. Minister Turcan has pointed out
that authorities will target the implementation of a bonus system when
calculating pensions in order to stimulate people to remain active and
continue to work for a longer period of time.
The Ministers of Health and Education presented the new rules for the
start of the new school year. All nurseries, kindergartens and schools
will thus function with physical attendance until the infection rate
reaches 6 per one thousand inhabitants in a locality. After this rate
is exceeded, all students will switch to online education, except for
the special education system. Moreover, physical distance will be
maintained between students, schools’ indoor spaces will be properly
ventilated and the protective mask will have to be properly worn.