News

Daily Newsletter - 5 January 2022

Summary

Macroeconomic (3)
Financial (2)
Investment (3)
Legislative (1)
European News (1)
Social (2)
Macroeconomic 
European funds absorption continues to be the biggest challenge in 2022
Minister of Development, Public Works and Administration Cseke Attila stated on Tuesday that European funds absorption continued to be the biggest challenge in 2022, and regional development, territorial harmonization and investments targeting social and economic balance remained priorities of the Ministry of Development. He added that two other challenges had to do with the implementation of the National Recovery and Resilience Plan (PNRR), of reforms and of investments, as well as with the implementation of the "Anghel Saligny" Investments Program. The latter will ensure the basic infrastructure - water, sewerage, roads, connection to gas networks - worth RON 50 billion, 7,545 projects, worth RON 137.5 billion altogether, having been submitted for this purpose.
Industrial producer prices grew by 32.2% in November 2021
Overall industrial producer prices (domestic and external market) grew by 32.2% in November 2021 year-on-year, the National Institute of Statistics (INS) announced on Tuesday. Mining industry prices thus rose by 80.67% in November 2021 compared to November 2020 and by 11.95% compared to October 2021. In this category, prices of crude oil and natural gas extraction recorded the biggest increases, of 151.6% in November 2021 compared to November 2020 and of 17.85% compared to October 2021.
Economic relations between Slovenia and Romania reached EUR 1 billion in 2021
Economic relations between Slovenia and Romania reached EUR 1 billion in 2021, and Arad County is the fastest gateway for investors to enter the country, according to the Slovenian Ambassador in Romania, Lea Stančič, who went on an official visit to Arad County Council on Tuesday, 4 January. Economic, cultural and tourism relations between the two countries were debated on this occasion. Following the talks, the county’s representatives proposed, among other things, organizing a fine art exhibition at Arad Museum Complex, featuring contemporary artists from Slovenia.
Financial 
Omniasig CEO Mihai Tecau made several statements about the local insurance market
The local insurance market is constantly evolving, both in terms of volume, and from the operational and digital point of view, which means that consolidation actions are periodically needed, according to Mihai Tecău, CEO of Omniasig. As to the mandatory car civil liability (RCA) insurance market, which has been significantly affected by the bankruptcy of the biggest insurer, City Insurance, Mihai Tecău believes that a more concrete evaluation of the impact on this sector can only be made in 2022.
Guarantee insurance market reached RON 261.8 million underwritten premiums
The guarantee insurance market reached RON 261.8 million underwritten premiums at the end of the first nine months of 2021, down by 28% year-on-year, after the value had almost doubled in the first nine months of 2020, compared to the similar period of 2019 and had nearly tripled compared to the first three quarters of 2018, according to data published in the Financial Supervisory Authority (ASF)’s report on the evolution of the insurance market in the first nine months of 2021. The decrease in the volume of underwritten premiums on the guarantee insurance sector in the first nine months of 2021 was based on the bankruptcy of market leader City Insurance, which had led this segment in the first nine months of 2020, with a RON 177 million underwriting volume. Apart from the fact that City Insurance recorded a RON 87.7 million volume of underwritten premiums at the end of September 2021, down by more than 50% year-on-year, the entire guarantee insurance market was also affected.
Investment 
Works on Giulești Stadium in Bucharest have been finalized
"Valentin Stănescu" Giulești Stadium in Bucharest was finalized and the delivery –take over documents were handed over to Deputy Prime Minister Sorin Grindeanu, who is also the Minister of Transport and Infrastructure, by Development Minister Cseke Attila on Tuesday, 4 January, according to a press release issued by the Ministry of Development, Public Works and Administration. Construction works on the sports complex had started in 2019 and the total value of the investment exceeded RON 185 million.
Nearly 40 pieces of modern medical equipment were received by Galati Emergency Hospital
Nearly 40 pieces of modern medical equipment have been brought to "Sf. Apostol Andrei" Emergency County Hospital in Galaţi, the investment having been announced by County Council President Costel Fotea. The new equipment includes radiology equipment and medical systems used during surgery, Intensive Care beds and imaging equipment. The investment has exceeded RON 5.8 million, the funds having been ensured from Galaţi County Council’s own budget.
Lidl Romania continues to invest in the prevention of plastic pollution
Lidl Romania continues to invest in the prevention of plastic pollution, by carrying out a new campaign at cash registers, dedicated to the national program ASAP Romania. The campaign takes place during the period 2 January - 30 June 2022. ASAP Romania (Careful Plastic Selection Army) is a social responsibility program initiated by The Institute Foundation and supported by Lidl Romania, which aims to generate a change in teenagers’ behavior towards responsible plastic use and recycling.
Legislative 
ANAF published the updated version of the Fiscal Code on its website
On 3 January 2022, the National Agency for Fiscal Administration (ANAF) published, on the institution’s website, the updated version of the Fiscal Code (all amendments made until the publishing of Government Emergency Ordinance 130/2021) and its implementation norms with the latest annotations and all the orders issued by ANAF and the Public Finance Ministry. The Fiscal Code version published on Tuesday is updated with the orders issued until 3 September 2021 and with the novelties introduced. The current version "is an edition updated with the Methodological Norms approved through Government Decision 1/2016, latest update: Government Decision no. 928 of 1 September 2021, and with the Fiscal Code enforcement orders issued until 01 September 2021", according to ANAF’s website. The latest update contains the provisions included in Government Emergency Ordinance no. 130 of 18 December 2021.
European News 
European Union and Africa could sign a strategic partnership
Nearly two years after the European Commission set out plans for a strategic partnership with Africa, and repeated delays, the long-awaited EU–African Union summit is close to taking place. In the meantime, European Council President Charles Michel invited a group of African presidents for a summit pre–meeting in mid–December. Michel wants a reset between Africa and Europe, "freed from the demons of the past".
Social 
Support measures for employees and employers affected by health restrictions will be extended
Labor Minister Marius Budăi stated on Tuesday, 4 January, that a normative framework for possible restrictions that could be imposed due to the accelerated increase in the number of COVID-19 cases was being prepared. The Minister indicated that the state was currently ensuring the protection of employees and employers affected by possible new health restrictions. Minister Budăi thus transmitted that furlough compensation measures, through the payment of 75% of the average gross wage and of the 41.5% allowance to those whose activity has been restricted would be extended until 31 March.
National Council of Students calls for adequate safety measures amid the fifth pandemic wave
On Tuesday, 4 January, the National Council of Students called for a set of measures to be adopted as soon as possible so that schools can be prepared to hold classes in an appropriate format. The National Council of Students has also called for the introduction of compulsory Covid-19 saliva testing for all pupils and students and for the entire personnel in the educational sector, on a bi-weekly basis, through a clear procedure that can be carried out in schools and the packaging of tests in individual kits, without having to sort bulk components.