Arrears to the general consolidated budget grew by 3.36% in January
2023 compared to the previous month, to RON 292.11 million, from RON
282.59 million, according to data published on the Ministry of Finance
(MF)’s website. Arrears over 90 days decreased by 17%, from RON 66.4
million to RON 55.1 million, those over 120 days increased by 5.6%,
from RON 167.8 million in December 2022 to RON 177.2 million in January
2023. Moreover, arrears over 360 days rose from RON 48.3 million to RON
59.7 million (+23.6%).
Annual inflation rate in the euro area fell less than expected in
February and core inflation rose, increasing pressure on the European
Central Bank to keep under control an inflation that is four times its
2% target. According to a preliminary estimate published by Eurostat on
Thursday, annual inflation in the 20 euro area countries slowed to 8.5%
in February from 8.6% the previous month. The figure announced by
Eurostat is below analysts’ estimates of 8.2%. It is the fourth
consecutive month of slowing prices in the euro area, after a record
advance of 10.6% in October.
Overall industrial producer prices (local and external market) grew by
24% in January 2023 compared to January 2022, according to data
published by the National Institute of Statistics (INS) on Thursday, 2
March. Prices in the manufacturing industry increased by 14.21% in
January 2023 year-on-year and by 0.31% compared to December 2022. Paper
and paper products manufacturing and food production recorded the
biggest cost increases in this category.
New retail and corporate loans granted by banks in Romania reached RON
126.7 billion in 2022, up by more than 14% compared to the level of new
loans accessed in 2021, according to information centralized by the
Right to Banking platform created by the Romanian Association of Banks
(ARB). Between January and December, new loans accessed by the
non-governmental segment totalled RON 110.5 billion.
The Ministry of Finance borrowed nearly RON 1 billion from banks on
Thursday, 2 March, through two auctions of government securities, at
yields of 7.99% and 7.27% per year. In the first auction, the Finance
Ministry reopened a bonds issue maturing in 2036 and borrowed RON 665
million from banks, above the planned sum of RON 400 million, at an
annual interest rate of 7.99%. The total volume of demand was RON 1.13
billion, of which competitive bids totalled RON 990 million and
non-competitive bids stood at RON 148 million.
Ramona Bernic has become a member of Uniqa Asigurări’s Board of
Directors, Austrian group Uniqa’s general insurance division in
Romania, as of March 2023, and is in charge of coordinating the
Corporate & Affinity area. With more than 20 years of experience in
the insurance industry in sales, underwriting, claims and operations,
of which almost 10 years dedicated to Uniqa’s business in both life and
general insurance, Ramona Bernic assumes her new position within Uniqa
from the role of Customer Care Director, from which she coordinated and
implemented important, market-innovative digital transformation
projects with a significant impact in improving Uniqa’s customer
experience.
Allianz-Tiriac has launched a campaign through which it offers a free
compulsory home insurance policy (PAD) upon concluding a voluntary home
insurance policy, according to information provided by the insurer. The
mandatory PAD policy, valid for one year, is offered free of charge to
customers who take out an optional home insurance policy issued by
Allianz-Tiriac during the period 1 March - 14 April 2023.
Maviprod-IRUM group of companies, owned by Oltean family from Reghin,
plans to invest EUR 8-10 million this year, thus continuing the
development program carried out in the past few years. In the first
part of 2022, IRUM finalized an over EUR 5.3 million investment in a
new 2,000 square meter painting unit, and in the second part of the
year, apart from the modernization of administrative offices, the
company focused on investments in technologies and equipment meant to
render the research and development center’s work activity efficient.
Delgaz Grid, part of E.ON group in Romania, plans to invest RON 915
million (over EUR 180 million) in 2023, 36% more than the previous
year, the highest investment budget of the past 18 years. Since
entering the Romanian market, the company has invested around EUR 1.6
billion in networks. The funds will mainly be used for the
modernization, expansion, automation and digitalization of gas and
electricity distribution networks.
Artisan cakes producer Angeline Cake Boutique, one of the most
important brands on the Romanian pastry and confectionery market, has
inaugurated its second sale unit, in Aviației area of Bucharest,
following a EUR 70,000 investment. The new shop has a surface of 80
square meters, more generous than the first Angeline Cake Boutique
unit, the one located in Victoriei Square.
E-Distribuţie companies, the electricity distribution operators part of
Enel group, have announced that they invested about RON 106 million
from their own funds in high-voltage projects in Bucharest, Ilfov and
in Dobrogea and Banat regions last year. According to company
officials, E-Distribuţie Muntenia invested RON 60 million in the
modernization of high-voltage lines and transformer stations in
Bucharest, investments made by E-Distribuţie Dobrogea amounted to RON
18 million, in particular for the modernization and upgrading of
transformer stations in Ialomița and Constanța Counties, while
E-Distribuţie Banat invested RON 28.3 million, of which RON 9.8 million
for the modernization of an overhead high-voltage power line in
Hunedoara County.
President Klaus Iohannis promulgated on Thursday, 2 March, the law
approving Government Emergency Ordinance 81/2022 amending Article 9 of
Government Ordinance 122/1998 on the accumulation, withdrawal and
replenishment of products from the reserves of national defence forces,
according to the Presidential Administration. The normative act allows
donations of products from the national defence forces’ own reserves to
the authorities of other states.
A draft law initiated by Liberal (PNL) deputy Florin Roman and
submitted to Parliament proposes that people who have the title of
Fighter for the Victory of the December 1989 Revolution should be
exempt from paying tax on a car. The legislative proposal amends and
supplements Article 469 of Law 227/2015 of the Tax Code. The initiator
of the project points out that, according to the provisions of the
Fiscal Code, it is up to the local public administrations whether or
not they want to grant this facility which is provided for in Law
341/2004 on the recognition of the victory of the Romanian December
1989 Revolution, for the anti-communist workers’ uprising in Brasov in
November 1987 and for the anti-communist workers’ uprising in Valea
Jiului - Lupeni - August 1977.
Several Liberal (PNL) MPs have submitted to the Senate a draft law for
the establishment and operation of Local Gastronomic Points, which are
units for the valorisation of local primary production, situated in a
rural locality, where food and drinks are prepared and served,
according to recipes specific to the area, directly to the final
consumer, for a maximum of 12 people at a time. The MPs believe this is
the solution to enhance the value of rural primary production,
especially in rural households, and opens up new market opportunities
for farmers, by promoting and selling food products, valued higher,
close to the source of production, in line with the objectives of the
European strategy.
On Thursday, 2 March, President Klaus Iohannis promulgated the law that
provides for an increase from 90 days to 150 days in the validity of
insurance policies concluded by insurance and reinsurance companies
against which bankruptcy proceedings have been opened. The Head of
State signed the decree promulgating the Law approving Government
Emergency Ordinance 62/2022 with a view to amending Article 262,
paragraph (32) of Law 85/2014 on insolvency prevention and insolvency
proceedings and Government Emergency Ordinance 19/2022 on certain
measures related to guarantees of good performance constituted under
public procurement contracts and sectoral contracts.
Europe’s chief prosecutor Laura Codruta Kovesi is already investigating
frauds that allegedly cost EU taxpayers 14 billion euros — now she
wants to go after the smugglers undermining sanctions against Russia.
The European Public Prosecutor’s Office is charged with probing any
offence deemed to have cost the European Union money, which often means
tracking international crime gangs and sophisticated cross-border VAT
fraud operations.
Unemployment rate in Romania was 5.6% in January 2023, the same as in
December 2022, and 0.5% higher for men than for women, according to
data published by the National Institute of Statistics on Thursday, 2
March. The number of unemployed (aged 15-74) estimated for January 2023
was 465,000, down from the previous month (468,400) and down from the
same period last year (495,600).
A total of 93,350 cases of acute respiratory infections - clinical
influenza, viral upper respiratory infection and pneumonia - were
reported during the period 20-26 February, the National Institute of
Public Health (INSP) announced on Thursday, 2 March. There were 7.3%
fewer cases compared to the previous week. By 26 February, 1,476,411
people in at-risk groups had been vaccinated against influenza with
serum distributed by the Ministry of Health.