Daily Newsletter
21 February 2017
Summary
- Why Romania fails to join OECD: criteria that it does not meet and what to do (Source: cursdeguvernare.ro)
- Romania's food imports up 9.6% (Source: profit.ro)
- Engie: Romanian natural gas market not ready for deregulation (Source: news.ro)
- Walking a thin line - 2017 Romanian budget (Source: adevarul.ro)
- Debtors left to fend for themselves (Source: capital.ro)
- OTP Bank could make acquisition this year (Source: bursa.ro)
- Banks win most debtor relief lawsuits (Source: profit.ro)
- Government guarantees for entertainment investment (Source: zf.ro)
- Senate rejects Emergency Decree 13 (Source: cursdeguvernare.ro)
- Dragnea reassures mayors (Source: cursdeguvernare.ro)
- Job vacancies up 11% in one year (Source: adevarul.ro)
Macroeconomic News (5) |
Why Romania fails to join OECD: criteria that it does not meet and what to do (Source: cursdeguvernare.ro; Date: 2017-02-20; Author: Unspecified) Romania’s accession to the OECD is a major goal of the Romanian foreign policy since 2004. After 7 governments at Victoria Palace and 13 years since establishing this objective, during which the OECD has received new members 2 times (2004 and 2012), Romania is still waiting for a favourable decision. According to an OECD report issued in December 2016, the wait seems to be lasting and does not dependent primarily on the consensus of the organization members, but Romania itself, which has significant shortcomings in meeting the accession criteria. Top |
Stoltenberg: "Romania is an example to be followed by the state members of NATO" (Source: bursa.ro; Date: 2017-02-20; Author: Unspecified) NATO Secretary General Jens Stoltenberg has congratulated Romania on the "major efforts of raising the defense budget to 2 percent of GDP in 2017," adding that Romania is "an example to be followed by the state members of NATO". Top |
Romania's food imports up 9.6% (Source: profit.ro; Date: 2017-02-20; Author: Unspecified) Romania imported food products worth EUR 5.7 billion in the first 11 months of 2016, up 9.6% on an annual basis. Meanwhile exports increased by only 2.7%, according to the Ministry of Agriculture and Rural Development (MADR). The food trade balance deficit was EUR 292.4 million. Top |
Engie: Romanian natural gas market not ready for deregulation (Source: news.ro; Date: 2017-02-20; Author: Unspecified) Eric Stab, CEO of Engie Romania, stated on Monday that the local natural gas market is not ready for deregulation on April 1 and that the bills of both household and corporate consumers would go up. Engie Romania and E.ON are the leading gas suppliers in the country. Top |
Walking a thin line - 2017 Romanian budget (Source: adevarul.ro; Date: 2017-02-20; Author: Unspecified) The Cabinet's budget for 2017 causes some concern regarding the country's ability to reach its targets, according to KPMG analysts. The state budget is one of the Cabinet's biggest responsibilities and, at the same time, an opportunity for numerous debates and discussions. Top |
Financial News (4) |
Debtors left to fend for themselves (Source: capital.ro; Date: 2017-02-20; Author: Unspecified) More than 50,000 Romanians are burdened by CHF-denominated loans. Their hopes of paying sustainable installments lay with the conversion bill, which the Parliament passed last year. However, the Constitutional Court ruled that the bill failed to observe the EU regulations. Now the debtors are left at the bankers' mercy. Top |
Banks log RON 4.3 billion in 2016 earnings, despite debtor relief (Source: zf.ro; Date: 2017-02-20; Author: Unspecified) Banks have logged RON 4.3 billion in earnings for 2016, the second highest annual figure since the economic crisis, according to the National Bank of Romania (BNR). While assets climbed to a 10-year high, the loans to deposits ration dropped to a new low and solvency is down. Top |
OTP Bank could make acquisition this year (Source: bursa.ro; Date: 2017-02-20; Author: Unspecified) "Hungarian financial group OTP could acquire another bank this year, but not at any price," said Laszlo Diosi, CEO of OTP Bank. The acquisition target must have a market share of at least 1% in order to help OTP reach a 5% market share in the next three years. Top |
Banks win most debtor relief lawsuits (Source: profit.ro; Date: 2017-02-20; Author: Unspecified) The banks won three times more debtor relief lawsuits than the clients, according to court data collected more than one month after the Constitutional Court published its opinion. The courts demand information about the clients' incomes and personal wealth in order to determine whether they can invoke unpredictability or not. Top |
Investment News (1) |
Government guarantees for entertainment investment (Source: zf.ro; Date: 2017-02-20; Author: Unspecified) The implementation of First Entertainment Center program will see the government support investments in the infrastructure needed for such activities, such as pools, saunas, massage equipment, fitness gear. Top |
Legislative News (1) |
Senate rejects Emergency Decree 13 (Source: cursdeguvernare.ro; Date: 2017-02-20; Author: Unspecified) The Senate rejected on Monday the infamous Emergency Decree 13, based on the report sent to the floor by the Legal Affairs Commission. The decree will be sent to the Chamber of Deputies, which is widely expected to follow suit this week. Top |
Politics (1) |
Dragnea reassures mayors (Source: cursdeguvernare.ro; Date: 2017-02-20; Author: Unspecified) Liviu Dragnea, leader of the Social Democratic Party (PSD), announced on Monday at the 20th general meeting of the Association of Romanian Communes (ACR) that the Parliament would define the distinction between legality and opportunity in order to end the paralysis affecting the administration apparatus. Top |
Social (1) |
Job vacancies up 11% in one year (Source: adevarul.ro; Date: 2017-02-20; Author: Unspecified) The number of job vacancies increased by 11% in the last quarter of 2016, reaching a total of 60,700. Most vacancies came from the public administration (4.01%), healthcare and social assistance, according to the National Institute for Statistics (INS). Top |