Daily Newsletter
24 September 2020
Summary
- "Attracting foreign investment must a priority for Romania," says Ramona Jurubita, FIC President Multiple sources
- Solid budget structure that guarantees the economic recovery (Multiple sources)
- CDR says economy cannot support 40% pension increase Multiple sources
Macroeconomic News (3) |
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APIA paid RON 833 million to 27,300 farmers
The Agriculture Payments and Intervention Agency announced on Wednesday that it had paid RON 833 million to 27,300 drought-stricken farmers in the past two days. A total of 28,081 payment applications were approved by APIA, amounting to a total of 1.12 million hectares of crops. Top |
SME turnover down almost 14% in August
Romanian SMEs ended the summer season with the first month of decline since the mid-May economic recovery. Compared to July, the aggregated turnover dropped 13.85%, while the annualized figure was down 3.76%. Statistical data from the SmartBill Barometer, which monitors more than 20,000 small and medium-sized businesses across the country, show that August was only the third negative month of 2020. Top |
Finance Minister says no tax hikes during crisis
The government will not increase taxes, will not change the flat income tax, and will not reduce the population's incomes, because no new taxes can be introduced during a time of economic crisis, said the Minister of Finance, Florin Citu, at a press conference held on Wednesday. Top |
Financial News (3) |
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The money mass reached RON 452 billion at the end of August, up 1.5% from the previous month and 14.3% from the corresponding month of the previous year, according to a press release. Private borrowing jumped 0.9% on a monthly basis to a total of RON 274 billion. Top |
Patria Bank wants to sell bonds worth at least EUR 3 million
Patria Bank announced on Wednesday that it wants to sell subordinate bonds worth between EUR 3 million and EUR 5 million. The interest rate will range between 6% and 6.5%, depending on bids. The bonds will have a nominal value of EUR 500 each, while the minimum subscription will be 50 bonds. Top |
The RON-denominated deposits of retail clients jumped 12.9% from August, 2019, to more than RON 140.63 billion, according to data released by the National Bank of Romania (BNR). Foreign currency deposits surged 16.5% to almost RON 100.1 billion. Top |
Investment News (2) |
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Alstom to provide traffic control solutions
Alstom announced on Wednesday that it would provide the signaling, traffic management and electrification solutions for the second section of the Brasov-Sighisoara railroad line. Top |
Auction organized for most difficult highway section contract
CNAIR published on Wednesday the auction procedure for the design and construction of Section 3 of the Sibiu-Pitesti Highway. The 37.4-kilometer section links the towns of Tigveni and Cornetu and the entire contract is estimated at more than EUR 1 billion. Top |
Politics (1) |
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President blasts pension increase
President Klaus Iohannis said the only way to increase pensions and teacher salaries is to take money from other sectors, but added that "financing has been reduced to a bare minimum everywhere". Top |
Social (2) |
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CNSU says classes to be held only
The National Committee for Emergency Situations (CNSU) decided, on Wednesday, that all schools where polling stations will be set up will hold online classes only on September 25, 28 and 29. Top |
Romania has second worst income gap in seven EU countries
Romania has the second worst income gap between the richest 20% and the poorest 20% in seven EU countries, according to the Social Monitor, a project by Friedrich-Ebert-Stiftung Romania. The document looked at inequality in Romania, Bulgaria, Sweden, Germany, Poland, Spain and Greece. Top |