Daily Newsletter
26 September 2017
Summary
- Government loan, 10% higher than one year ago. State securities, responsible for the rise, with an over RON 10bn growth in the balance (Source: profit.ro)
- Council for SMEs: Investments must be cut and loans must be taken out for Romania to fall under a 3% deficit from GDP (Source: news.ro)
- CFA Romania: Confidence in economy goes down at the minimum of the past three years (Source: cursdeguvernare.ro)
- CFA: The macroeconomic confidence indicator fell by nine points in August (Source: bursa.ro)
- Population's deposits in lei rose 10.9% in August, and those in foreign currency by 10.4% (Source: zf.ro)
- The increase in lending rates continues. Robor for 3 months reached 1.11% (Source: adevarul.ro)
- About 70% of BCR's retail clients will not be affected by the rise in Robor (Source: economica.net)
- PSD and ALDE, "flawless" solidarity ": Sevil Shhaideh and Rovana Plumb remain in the government (Source: cursdeguvernare.ro)
- PNL asks for the dismissal of Rovana Plumb and Sevil Shhaideh (Source: news.ro)
Macroeconomic News (5) |
Government loan, 10% higher than one year ago. State securities, responsible for the rise, with an over RON 10bn growth in the balance (Source: profit.ro; Date: 2017-09-25; Author: Unspecified) The Government loan increased by 1.3% in August 2017 compared to July 2017, up to RON 96,943.3m, according to NBR data. Compared to the data recorded one year ago, the rise in real terms exceeds 10%. On 31 August 2017, the government loan rose 11.8 percent (10.5 percent in real terms) over 31 August 2016, when it had been situated at RON 86,710.7m. Top |
Council for SMEs: Investments must be cut and loans must be taken out for Romania to fall under a 3% deficit from GDP (Source: news.ro; Date: 2017-09-25; Author: Unspecified) Authorities must cut massively from investments and take out loans fast for Romania to fall under a 3% deficit from the Gross Domestic Profit (GDP) this year, otherwise the 3% target will be exceeded by the end of the year, Florin Jianu, the head of the National Council of Private Small and Medium-sized Enterprises from Romania, stated Monday. Top |
CFA Romania: Confidence in economy goes down at the minimum of the past three years (Source: cursdeguvernare.ro; Date: 2017-09-25; Author: Unspecified) The macroeconomic confidence indicator CFA Romania suffered a severe slump, of over 15% in August compared to the previous months, up to 50.7 points, the lowest level in the past three years. This is the third consecutive month of decrease for the confidence indicator. Both components of the indicator (appreciation of the current conditions and anticipations) contributed to the drop, according to CFA Romania communication. Top |
CFA: The macroeconomic confidence indicator fell by nine points in August (Source: bursa.ro; Date: 2017-09-25; Author: Unspecified) The macroeconomic confidence indicator of CFA Romania fell by nine points in August compared to the previous month, at 50.7 points, the slump being due to both components of the indicator, according to a press release sent to the Editorial Office. Thus, the indicator of current conditions was 68.6 points, down 6.4 points, while the anticipations indicator went down by 10.2 points up at 41.8 points (the lowest value since March 2013). Top |
Breaking News: VAT revenues had an unexpected improvement in August 2017, plus 20% compared to August 2016 (Source: zf.ro; Date: 2017-09-25; Author: Unspecified) VAT revenues had an unexpected improvement in August when the state earned RON 5.02bn from this tax, compared to RON 4.19bn in August 2016. In the first seven months of 2017, VAT revenues were 5% down, that is they were worth RON 141.2bn compared to RON 129.6bn in the first seven months of 2016. As a result, VAT revenues in the first eight months of 2017 are only 1.5% down compared to the first eight months of 2016. Top |
Financial News (4) |
Even higher installments at banks: Robor for 3 months index, depending on which the interests of the most loans in lei are calculated, reached 1.11%, the maximum level in nearly 2 years (Source: profit.ro; Date: 2017-09-25; Author: Unspecified) Robor for 3 months index, depending on which the interests of the most loans in lei are calculated, reached 1.11% per year, the maximum level since the beginning of last year. Robor for 3 months is the main indicator under which the variable interests of the loans in lei are calculated. This year, Robor for 3 months reached a maximum level, of 0.93%, on 3 May, for remaining below the 0.9% threshold later. Top |
Population's deposits in lei rose 10.9% in August, and those in foreign currency by 10.4% (Source: zf.ro; Date: 2017-09-25; Author: Unspecified) Population's deposits in lei rose 10.9% in August compared to the same period of last year, to RON 107.53bn, while savings in foreign currency grew by 10.4%, to RON 62.8bn, according to NBR data. At the same time, legal persons' deposits in lei (non-financial institutions and non-monetary financial institutions) increased by 10.9% (9.6% in real terms), to RON 86.2bn, and deposits in foreign currency, expressed in lei, for the same category of clients went up by 5.4%, to RON 28bn. Top |
The increase in lending rates continues. Robor for 3 months reached 1.11% (Source: adevarul.ro; Date: 2017-09-25; Author: Unspecified) Robor indicator rose to a record level of the past two years Monday, of 1.11%. The interests of loans in lei are calculated depending on Robor, thus the lending rates depend on its evolution. In the last session, Robor for three months was situated at 1.09%, but in Tuesday's session it went up to 1.11%, the highest level since November 2015. Top |
About 70% of BCR's retail clients will not be affected by the rise in Robor (Source: economica.net; Date: 2017-09-25; Author: Unspecified) As the vice president in charge of the retail and private banking area of BCR, Dana Demetrian, shows, the indebtedness degree practiced by the bank varies from 33% to 52%, which means practically, that the credit institution cannot be affected by an eventual NBR rule of reducing the indebtedness degree. Also, about 70% of the retail loans in lei have a fixed interest which means that the clients will not be affected by the growth in the reference index Robor. Top |
Investment News (1) |
Dedeman opens its 48th store, a 10m euros investment, and exceeds 10,000 employees. The next investment - the store from Bucharest neighborhood Pantelimon (Source: profit.ro; Date: 2017-09-25; Author: Unspecified) The building materials and interior fitting retailer Dedeman, held by Paval brothers, will open a store in Turda, reaching thus a chain of 48 units in Romania. The new investment, worth 10m euros, has contributed to a store measuring 43,000 square meters, out of which 11,500 m2 are occupied by the proper store and the rest are dedicated to green spaces, reception area and to the parking with 457 places. Top |
Politics (2) |
PSD and ALDE, "flawless" solidarity ": Sevil Shhaideh and Rovana Plumb remain in the government (Source: cursdeguvernare.ro; Date: 2017-09-25; Author: Unspecified) The PSD leader, Liviu Dragnea, stated Monday, after BPN session of PSD, that the investigation targeting Sevil Shhaideh and Rovana Plumb is a very dangerous precedent which would entail that all transfers have been prejudices up to now. Top |
PNL asks for the dismissal of Rovana Plumb and Sevil Shhaideh (Source: news.ro; Date: 2017-09-25; Author: Unspecified) PNL asks for the dismissal of Rovana Plumb and Sevil Shhaideh, the liberals' leader, Ludovic Orban, stating that their maintenance into office affects Romania's image seriously. Orban also stated that their maintenance into office makes any step in the fight against corruption useless. Top |
Social (1) |
Cartel ALFA has begun the pickets of the prefectures from the country and threatens to trigger a wide-scale conflict (Source: agerpres.ro; Date: 2017-09-25; Author: Unspecified) The National Syndicate Confederation Cartel ALFA has initiated a series of protests nationally, claiming the transfer of the employer's social taxes to the employee to be blocked and the Law on the unlocking of negotiations and on the conclusion of collective working contracts at all the levels to be amended, threatening to trigger a wide-scale social conflict if the Government maintains the proposal to transfer the social taxes in the budget proposal for 2018. Top |