News

Daily Newsletter - 3 February 2021

Summary

Macroeconomic News (2)

APIA authorized EUR 2.14 billion in payments

The Agriculture Payments and Intervention for Agency (APIA) continues to authorize regular payments for the 2020 campaign. So far, APIA has authorized payments to 767,907 farmers, representing 93.54% of the total number of eligible farmers who applied for single payments for the 2020 campaign. The overall value of payments amounted to EUR 2.14 billion.

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Industrial production prices up

The total industrial production prices (domestic and foreign markets) increased by 1.3% in December, 2020, compared to the previous month, the National Statistics Institute (INS) announced on Tuesday.

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Financial News (3)

Banca Transilvania's brand value up 19%

Banca Transilvania climbed to 302nd place in the global index of banking brands, while BRD dropped to 470. Banca Transilvania moved up 37 places in the global index published by Brand Finance Banking 2021, following a 19% increase in brand value to USD 441 million.

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Valentin Tataru, ING Bank: "Romania's financing needs will be marginally lower this year"

In nominal terms, Romania's financing needs will be only marginally lower in 2021 compared to the previous year, according to Valentin Tataru, chief economist at ING Bank Romania. In 2020, Romania's financing needs (deficit + refinancing) exceeded RON 140 billion at a deficit of 9.8% of GDP.

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Retail deposits up almost 3.8%

Low interest rates have tempered the saving appetite in recent years, compared to a decade ago when deposits surged by RON 9-10 billion each year. Over 60% of all retail deposits are denominated in the national currency, while foreign currency savings fell last year. The value of retail term deposits increased by 3.76% in 2020, compared to the end of 2019.

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Investment News (2)

More than RON 91 million available for modernization projects

14 projects aimed at modernizing and endowing education units, improving the quality of life and increasing the competitiveness of some companies, received over RON 91 million in funding, according to the Ministry of Development (MDLPA). The projects will be financed through the Regional Operational Program (ROP) 2014-2020.

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Cluj County Council approves expressway link

The Cluj County Council issued the zoning certificate needed for the project to build the expressway that will connect the A3 Highway (Turda area) and the DN1 national road (Mărtineşti-Tureni area). The project is estimated at EUR 55.3 million and financed mainly from European grants. The purpose of the project is to create a fast communication route, which would handle some of the heavy traffic around Turda, according to a press release from the Cluj County Council.

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Legislative News (2)

Amending Decree 6/2019 provide opportunity for crisis-stricken companies

The amended Decree 6/2019 offer companies affected by the crisis the opportunity to recover by rescheduling their debts to ANAF, as well as waiving interest and late charges, according to representatives of insolvency company CITR. The firm encourages distressed companies to benefit from the new facilities offered by the decree.

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19 bills rejected by Chamber of Deputies

During Tuesday's plenary session, the Chamber of Deputies rejected 19 bills introduced in previous legislatures, between 2010 and 2020. One of these bills aimed to put panic buttons in all taxis and rented vehicles. The panic button was supposed to be a fast connection to the 112 emergency call system.

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Politics (2)

President tells parents to prepare children for school

Beginning on Monday, February 8, most children will go to school in person, according to President Klaus Iohannis. The president also presented the four options for holding classes during the pandemic.

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PSD summons Health Minister to answer questions

Alfred Simonis, leader of the PSD deputies, announced during Tuesday's plenary session of the Chamber of Deputies that the PSD has submitted a request to the Permanent Bureau calling the Minister of Health, Vlad Voiculescu, to appear before Parliament and explain "the state of Romanian hospitals".

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Social (2)

79% of vaccinated individuals belong to vulnerable groups

As of Tuesday, 948,149 doses of the BioNTech/Pfizer Covid-19 vaccine and 36,000 Moderna doses had arrived in Romania, of which over 700,000 had already been administered. Most of the individuals already vaccinated (79%) belong to vulnerable categories, i.e. they are over 65 years old, are chronically ill, disabled, and residents of social centers.

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Teachers and students to wear masks at all times

The Minister of Education, Sorin Cîmpeanu, specified that students and teachers will have to wear protective masks at all times while in school, according to a joint order of the Ministries of Education and Health, which will be issued soon.

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