Daily Newsletter - 24 March 2017


Macroeconomic News (3)

Romania lost EUR 4 billion in EU funds (Source:; Date: 2017-03-23; Author: Unspecified)

Romania spent less than 80% of the funds made available for its projects by the European Union in the first seven years after its accession, according to Sorin Ionita, president of Expert Forum. "We lost one out of every five euros even though the spending period was extended to 10 years," said Ionita.


Trader heaven (Source:; Date: 2017-03-23; Author: Unspecified)

The exports of raw agricultural products surged almost 12% last year to EUR 3.75 billion, a four-year high. Agricultural and game products are the fourth biggest export category in Romania, after vehicles, electrical equipment and tools.


Government to slash investments, procurement to rein in deficit (Source:; Date: 2017-03-23; Author: Unspecified)

The Cabinet is considering the slashing of funds allocated to ministries for investments and procurement, except the co-financing of EU-funded projects, if the deficit exceeds the target this summer.


Financial News (3)

RON-denominated deposits up 1% in February (Source:; Date: 2017-03-23; Author: Unspecified)

The value of deposits belonging to private residents reached RON 272.1 billion, up 0.6% in February, compared to the previous month. The RON-denominated savings of local households jumped 1% to RON 104.5 billion, while corporate deposits moved up 0.4% to RON 81 billion, according to a BNR press release.


Loans up 0.8% in February (Source:; Date: 2017-03-23; Author: Unspecified)

Corporate and retail borrowing moved up 0.8% in February, compared to the previous month, following a 0.9% contraction in January, according to the National Bank of Romania (BNR).


ANPC wins Alpha Bank lawsuit (Source:; Date: 2017-03-23; Author: Unspecified)

The Bucharest Court of Appeals rejected Alpha Bank's appeal to the ruling handed down in the lawsuit brought against the bank by the National Consumer Protection Authority (ANPC). Thus, the bank has lost all avenues of attack and will have to remove certain clauses from all of its contracts.


Investment News (3)

Enel to invest EUR 329 million in Romania in 2017 and 2018 (Source:; Date: 2017-03-23; Author: Unspecified)

Enel has a EUR 329 million investment budget for improving services in Romania in 2017 and 2018. This year's investment will amount to EUR 151 million.


Element Development launched retail projects (Source:; Date: 2017-03-23; Author: Unspecified)

Real estate developer Element Development has started building the Bistrita Retail Park, while applying for the permits needed to build the Targoviste Retail Park. The two projects are worth EUR 16.5 million.


Daimler opens new manufacturing unit in Cugir (Source:; Date: 2017-03-23; Author: Unspecified)

Star Transmission, a subsidiary of the Daimler group, announced on Thursday the opening of a new manufacturing unit in Cugir, Alba county. The company invested EUR 36 million in the new unit, which created 200 new jobs.


Legislative News (1)

Nicolicea wants referendum rules amended (Source:; Date: 2017-03-23; Author: Unspecified)

Deputy Eugen Nicolicea (PSD) has drafted a bill that would strip the president of his power to call for a referendum on matters of justice, taxation and international treaties.


Politics (2)

Dragnea: I appreciate the President's wisdom (Source:; Date: 2017-03-23; Author: Unspecified)

Liviu Dragnea, leader of the PSD, told Romania TV on Thursday that he appreciates President Iohannis's wisdom in consulting the Parliament before nominating the next head of the Foreign Intelligence Service (SIE).


Busoi running unopposed (Source:; Date: 2017-03-23; Author: Unspecified)

Cristian Busoi, the current leader of PNL Bucharest, has virtually no competition in the city organization's internal election. Busoi did not rule out a run for the party's national leadership.


Social (1)

Romania and its talents (Source:; Date: 2017-03-23; Author: Unspecified)

Romania ranks 55th in the world and 32nd in Europe when it comes to competitiveness. The country's ability to attract and use talents is worse: 82nd in the world.