News

Daily Newsletter - 27 March 2017

Summary

Macroeconomic News (3)

Romania exported last year EUR 10 million worth of vaccines 

Romania exported last year EUR 10 million worth of vaccines, according to the preliminary data released by the National Statistics Institute (INS). Meanwhile, Romanian doctors complain about the lack of vaccines in the country.

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BNR: State companies will start playing bigger role in national economy 

The role that state companies play in the national economy will begin growing, following a shift in the public's view of the state's role in the economy in the wake of the 2008 financial crisis, according to BNR researchers. This situation is not particular to Romania.

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Macroeconomic confidence indicator up slightly in February 

The macroeconomic confidence indicator published by CFA Romania increased 2 points in February, reaching 56.9 points. The increase came mostly from a correction of the current situation indicator, according to a press release.

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Financial News (4)

Romanians are late in paying installments to banks, family and friends 

A third of Romanians are behind in their installment payments, but only 10% of bad debts are mortgages, according to a survey conducted by the Kruk group. The survey showed that most Romanians fall behind in paying bank installments and loans taken from family and friends.

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BNR: Bad loans stood at more than RON 13.6 billion last month 

The aggregated value of bad corporate and retail loans was more than RON 13.6 billion at the end of February, down 35.7% on an annual basis, according to data centralized by the National Bank of Romania (BNR). More than 6 billion of the total are RON-denominated bad loans.

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Credit contracts can no longer be used to foreclose 

Beginning today, credit contracts can no longer be used to foreclose, according to lawyer Gheorghe Piperea. Banking sector representatives say the new law is not hurting them and invoked article 120 of Decree 99/2006 on lenders and capital adequacy.

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Mortgage borrowing up in February 

The value of housing loans went up more than RON 436 million in February, which is usually a more sedate month for mortgages because banks run out of state guarantees. The entire increase came from RON-denominated loans. For the first time, the aggregated value of RON-denominated loans exceeds that of foreign currency loans.

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Investment News (1)

Bucharest City Hall to discuss public companies 

The Bucharest City Council (CGMB) will discuss at the March 29 meeting the establishing of ten public companies tasked with managing some of the city's services. Councilman Ciprian Ciucu wrote on Friday that mayor Gabriela Firea owes some explanations regarding these companies.

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Legislative News (2)

Air carriers could be forced to disclose information 

The Ministry of Internal Affairs has published on its website a draft bill that would force all air carriers whose airplanes fly from or to Romania or simply stop here on the way to other destinations to disclose the personal information of all passengers.

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Cabinet's legislative schedule 

The Fiscal Code amendments implementing the PSD's economic platform will be discussed by the Cabinet in May. The Cabinet will also focus on the acquisition rules for farmland, local finances, the royalty system and increasing the state's control over state-owned companies.

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Politics (1)

ALDE withdraws support of Deputy PM Daniel Constantin 

The leadership of the Alliance of Democrats and Liberals (ALDE) withdrew yesterday the party's political support for Deputy PM Daniel Constantin. Constantin is now expected to resign from the Cabinet and the party put forward the name of Gratiela-Leocadia Gavrilescu to replace him. Gavrilescu is currently a fourth-term deputy.

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