Recently, the FIC member
companies decided on the 15 top executives and professionals in the
composition of the Board who will take on the leadership during the
2021 – 2022 mandate. The vision of the new FIC Board is based on the
following main topics that could continue shaping the sustainable
growth of the Romanian economy: the corollary of a sustainable recovery
of the economy is the continuation of the vaccination campaign, with
the support and involvement of the private sector in order to minimize
the social and economic damage; a continued involvement for supporting
attracting foreign direct investments (FDIs) to Romania, aiming at
obtaining a multiplying development effect for the SMEs ecosystem; the
elaboration of public policies and recommendations regarding the
perspective of the green and digital transitions awaiting Romania in
the 2021 – 2030 decade; and the improvement and consolidation of the
consultative process between the authorities and the business
environment with the objective of attaining and implementing sound
policy measures. The business environment represented by the FIC
members will continue to support the authorities’ efforts and be
involved in the mass vaccination campaign.
The European Commission has published a document on Romania’s economic
situation, referring to the budget deficit and support measures taken
last year in response to the Covid-19 pandemic. According to the
aforementioned document, the significant budgetary deterioration in
2020 was partly generated by the fiscal measures implemented amid the
health crisis and by the economic downturn.
Romania will fall in the global ranking in terms of Gross Domestic
Product (GDP) size in the following decades, especially due to the
demographic crisis. Another cause is the low level of investments,
which will not support growth like in other emerging economies,
according to a study by Capital Economics evaluating the growth
potential until 2050.
The Ministry of Finance reopened a securities issue due in November
2024 and borrowed RON 571.8 million, compared to the scheduled level of
RON 600 million, at an annual interest rate of 2.43%. Seven primary
dealers took part in the auction. The total volume of demand stood at
RON 593.8 million, of which competitive offers totaled RON 588 million,
and those on behalf of clients amounted to RON 100 million.
Yesterday, Euroins, the second biggest RCA insurer in Romania,
announced a decrease in RCA policy sales in Q1 of 2021, in line with
the strategy to reduce exposure on this sector. However, the insurer
pointed out that the volume of paid damages had constantly grown. In
2021, the company recorded over 60,000 damage cases and paid over RON
400 million for all car repairs and physical injuries.
Romanians can lend money to the state in June through three new Tezaur
(Treasury) issues with 1, 3 and 5-year maturity and 2.95%, 3.35% and
3.65% interest rates. The five-year maturity issue will practically
return, after it did not exist in May. Interest rates for 1 and 3-year
maturities are similar to those in May. The minimum value of a
subscription is RON 1, representing the issue price of one government
Iulius Group, the real estate developer controlled by Iulian Dascălu,
estimates EUR 35 million investments in infrastructure and urban
mobility works, which will serve the future Palas Campus building in
Iaşi. Last year, the company started works on Palas Campus, a project
that includes 54,000 square meters of office spaces and 6,000 square
meters of retail spaces.
Hungarian group MOL has announced that it has invested over USD 20
million, since the onset of the COVID-19 pandemic up to present, in
extensive measures to prevent and combat SARS CoV 2 virus infection for
its employees and clients in Central and Eastern Europe and has donated
USD 5 million to support the healthcare system. In Hungary, MOL
supported the management and prevention of the COVID-19 health crisis
through an approximately USD 1.5 million donation, the funds having
been allocated for the acquisition of medical equipment, as well as
ANA Hotels has announced the finalization of the first stage of Athenee
Palace Hilton’s renovation process, the "New Wing" with 132 rooms
respectively. The investment in modernization works is a continuation
of the long-term vision of ANA Hotels group’s owner, George Copos.
Yesterday, the Chamber of Deputies adopted, as the decision-making
body, with a majority of votes, a draft law amending the Criminal Code.
Following the amendment, slavery, human trafficking, trafficking in
minors, procuring, sexual assault and torture are no longer subject to
a limitation period. The law will be sent for promulgation.
National control mechanisms will be responsible for ensuring that the
EU recovery funds are not affected by corruption or fraud, although the
European Commission is also getting ready to use the new rule of law
mechanism as soon as possible. The first payments of the recovery funds
are expected to reach member states in July. The long-awaited resources
of the EUR672.5 billion Recovery and Resilience Facility will help to
boost the European recovery.
Secretary of state Andrei Baciu, the vice-president of the National
Committee for the Coordination of Anti-Covid-19 Vaccination Activities
(CNCAV), announced yesterday, during a press conference, that the EU
Digital COVID Certificate would enter into force on 1 July and would be
available for download on a platform developed by the Special
Telecommunications Services (STS). The certificate shows that a person
was vaccinated against COVID-19, or has recovered from the disease, or
has a negative RT PCR test result.
Chamber of Deputies president Ludovic Orban has announced that the
situation of children’s allowances could be discussed in the first
meeting of the ruling coalition. The leader of the National Liberal
Party (PNL) has also indicated that neither he nor Prime Minister
Florin Cîţu support an increase in such allowances starting from 1
July, according to news.ro.