News

Daily Newsletter - 20 May 2020

Summary

Macroeconomic News (3)

Forest fruit imports exceeded exports 4.5 times in 2019

Romania has more than 300 forest fruit growers and an annual production of 23,000-30,000 tons. Last year's blueberry exports amounted to EUR 10 million, with the main foreign markets being England, Ireland and Germany. The forest fruit business has taken off in recent years, due to a surge in demand.

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New car registrations down 76.3% in EU

The number of new cars registered in the European Union was down 76.3% from the corresponding month of the previous year, according to ACEA data. April was the first full month of travel restrictions. With most showrooms closed across Europe, the number of new car sales dropped to 270,682.

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Construction work up 2.1% in March

Romanian construction work jumped 2.1% in March, 2020, compared to the previous month. This was the highest growth rate of all EU member states, according to a report released by Eurostat. Across the European Union, construction work plunged 14.1%.

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Financial News (2)

Bank clients increasingly willing to negotiate

Debtors are more and more willing to negotiate with the lenders' representatives and have lately been resorting more and more to the services of the Alternative Banking Dispute Resolution Center (CSALB). The pandemic crisis has led to a significant increase in the number of negotiation applications.

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Raiffeisen Bank continues to finance APIA subsidies

Raiffeisen Bank continues its campaign to finance the subsidies granted to the agriculture sector by providing loans to farmers who stand to receive acreage subsidies, according to a press release. The bank provides a means for farmers to access their subsidies faster, based on simplified analysis and paperwork.

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Investment News (1)

TED'S Coffee opens new cafe

The latest TED'S Coffee cafe opened yesterday in Bucharest's Globalworth Plaza (formerly known as Nusco Tower), the culmination of a EUR 44,000 investment project. Two more locations are set to open in Bucharest and Arad in the next two months.

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Legislative News (1)

PSD pushes economic bill through

The Social Democratic Party (PSD) is pushing through Parliament a bill that would prevent the government from selling any state stake in national companies, banks and various other companies for two years. The bill has passed the Senate and is now on its way to the Chamber.

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Politics (2)

Iohannis: PSD's priority is to bring down the Cabinet

President Klaus Iohannis criticized on Tuesday the politicians who refuse to observe the restrictions imposed by the authorities and accused the Social Democrats of having the Cabinet's downfall as their top priority at a time when the country is on a state of alert.

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PNL wants local elections held in September-October

The National Liberal Party (PNL) is considering holding the local elections at the end of September or the beginning of October, followed by the Parliament election in December. However, everything depends on the pandemic situation.

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Social (2)

Labor agreement signed with German authorities

The Minister of Labor, Violeta Alexandru, and her German counterpart, Hubertus Heil, have met to discuss the situation of Romanians who do seasonal work in Germany. The two signed a join statement of intent regarding the need to step up cooperation in social policies and labor markets.

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When and how will restaurants reopen?

"We will open on June 1. Outdoor areas will be opened throughout Romania. On June 15, the second stage will be implemented, featuring 50% of indoor areas, and on June 30 we will be allowed to make all indoor areas available to customers, provided epidemiological conditions are observed," said Dragoș Petrescu, owner of a HoReCa business.

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