Daily Newsletter - 3 November 2021


Macroeconomic (3)
Financial (3)
Investment (3)
Legislative (1)
European News (1)
Social (2)
Total energy resources available in 2020 recorded a 6.2% decline
Total energy resources available in 2020 decreased by 6.2% compared to 2019. Primary energy production was 8.9% lower, imports of energy resources fell by 11.9%, the gross domestic energy consumption dropped 2.6% and the final energy consumption recorded a 1.5% decline compared to the previous year, according to data published by the National Institute of Statistics (INS). Primary energy production in 2020, of 22.351 million toe, fell by 2.184 million toe compared to 2019, amid the decrease in production at all types of primary energy carriers. Significant declines were reported by coal production (-34%) and by usable natural gas production (-10.7%).
Industrial producer prices grew by 19.5% in September
Industrial producer prices (domestic market and external market) grew by 19.5% in September compared to the same month of last year, according to data published by the National Institute of Statistics (INS). Industrial producer prices for the domestic and external markets altogether were up 3.2% month-on-month in September 2021. According to the aforementioned source, the industrial producer price index at the level of the local market increased by 3.91% in September compared to August 2021, and by 21.72% year-on-year. Furthermore, prices on the external market rose 1.85% (compared to August 2021) and 15.79% (compared to September 2020).
Ministry of Finance attracted RON 90 million from banks on Tuesday
On Tuesday, the Ministry of Finance attracted RON 90 million from banks, in addition to Monday’s auction, when it had borrowed RON 600 million, at an interest rate of 4.93% per year, through a benchmark government bonds issue, with 108-month residual maturity, according to data published by the National Bank of Romania (NBR). The nominal value of the additional issue was RON 90 million, and banks submitted RON 200 million offers. The Ministry of Finance plans to contract RON 4.4 billion loans from commercial banks in November 2021, of which RON 400 million through a treasury bills issue and RON 4 billion through nine government bond issues.
First Bank has launched mobile payments through the Apple Pay function
First Bank has launched the Apple Pay function which allows making payments in physical or online stores, without the need for cash or a card. In September, the bank also launched the Google Pay function for customers using smartphones that run the Android operating system. Payments are made by simply placing one’s iPhone or Apple Watch close to the payment terminal. All payments made with Apple Pay are safe as they are secured with Face ID, Touch ID, a PIN code, or a Unique Dynamic Code.
Libra Bank pays the plane ticket for Romanians working abroad who buy a residence in Romania
During the period 1 November 2021 – 31 January 2022, Libra Internet Bank offers the equivalent value of the plane ticket to clients who come to Romania to sign a mortgage loan agreement with the bank, within the limit of RON 1,500, according to the information provided by the bank. Mortgage loans for Romanians working abroad can be accessed with zero file analysis fee, zero loan management fee and without a life insurance. The net minimum income required by the bank is RON 7,500 or equivalent, and the maximum crediting period is 30 years.
BCR ended the first nine months of 2021 with a net profit of RON 1.1 billion
Banca Comercială Română (BCR), controlled by Erste Group, recorded a net profit of RON 1.14 billion (EUR 232.5 million) in the first nine months of the year, up by 35% against the similar period of 2020, an evolution supported by the improving operating performance and the lower risk costs, the bank announced on Tuesday. BCR’s operating result grew by 12.3%, to RON 1.57 billion (EUR 321 million), following the increase in the operating income and the decrease in operating expenses.
Belgian developer WDP invested EUR 7 million in the industrial space it built for Rosti
Belgian developer WDP invested EUR 7 million in the 11,000 square meter industrial space it built for the Swedish plastics manufacturer Rosti. The building is located in Păuleşti locality, near Ploieşti, and was put into use in the second quarter of 2021, according to WDP group’s latest financial report. The Swedish group Rosti opened a new plastic injection molding factory which manufactures parts for the automotive industry in Păuleşti. At the end of 2020, Rosti had announced that it planned to expand its production capacity in Romania, by building a new production unit, in addition to the one it already has in Ploieşti West Park.
Biofarm has inaugurated a second production unit in Bucharest
Medicines producer Biofarm Bucharest has inaugurated a production unit, following an over EUR 35 million investment. The new plant has a three times higher flow than the already existing one. The new production unit, located close to the Soarelui Highway, will have four production flows – tablets/film-coated tablets, soft capsules, drops and syrups. The company also has a plant in the Timpuri Noi area in Bucharest.
Catinvest keeps expanding the Electroputere Park project in Craiova
French real estate group Catinvest continues to expand the Electroputere Park project in Craiova by inaugurating a mixed-use building that includes 8,300 square meters of A-class offices and 4,400 square meters of retail spaces, as part of an over EUR 40 million total investment. Following this new expansion, the west wing of Electroputere Park has reached a total capacity of about 2,000 employees who can work in the spaces within the project. The new offices have already been leased by companies such as Ubisoft, the French leader of the video games industry, and Operative Media, while the office spaces inaugurated at the end of last year were leased by Hella, the German leader which specializes in lighting systems and electronics for the automotive industry with multinational activities.
ANAF will verify all Romanians who purchase used cars
The Romanian Automotive Registry (RAR) will send information about Romanians who buy used cars from the European Union to the National Agency for Fiscal Administration (ANAF) in order to prevent value added tax fraud. The new measures have been included in the Government Emergency Ordinance (OUG) 120/2021 published in the Official Gazette. The aforementioned OUG targets the administration, functioning and implementation of the "RO e-Factura" national electronic invoicing system in Romania, and completes OUG 78/2000 on the homologation, issuance of vehicle identity cards and certification of road vehicles’ authenticity with a view to their sale, use or registration in Romania, as well as their market supervision.
European News 
Bulgaria and Romania report record numbers of daily coronavirus deaths
Romania reported record numbers of daily coronavirus deaths, and there were no available intensive care beds across the EU’s second-least vaccinated state. The pandemic has killed 48,664 people out of 19 million to date. According to statistics, Romania has fully vaccinated 37.2% of its adult population. Although daily inoculation numbers have risen in recent weeks, skepticism remains elevated because of distrust in state institutions and misinformation campaigns.
Ministry of Health has distributed 7,500 doses of monoclonal antibodies to 147 hospitals
The Ministry of Health has announced that it has distributed 7,500 doses of monoclonal antibodies to 147 hospitals in the country, for the treatment of patients with mild and moderate forms of COVID-19, but who are at risk of developing severe forms of the disease. Moreover, the Health Ministry’s specialized committee has transmitted the criteria according to which patients are selected, and they will be guided by their family physicians, in order to benefit from this treatment.
Number of jobs available in the first ten months of 2021 reached a record level
The number of jobs available in the first ten months of this year exceeded the total number of jobs offered in the entire year 2020. More than 309,000 new jobs were opened, about 10,000 more than those available throughout 2020. Furthermore, a 16% increase was also recorded in the number of new jobs in January-October 2021 compared to the similar period of last year. More than 37,000 new jobs were offered in October 2021 alone. The sectors that needed the most employees last month were Retail, Transport/Logistics, Services, IT/Telecom and the Food Industry, each of these having opened over 3,800 new jobs.