Daily Newsletter - 8 January 2018


Macroeconomic News (3)

Romania exported approximately 8 million tons of cereals (Source:; Date: 2018-01-07; Author: Unspecified)

Romania exported 7.87 million tons of cereals in the first nine months of this year, down 5.6% compared to the corresponding period of 2016, while revenues dropped 2.5% to EUR 1.42 billion, according to data released by the Ministry of Agriculture and Rural Development. The food trade balance shows that wheat is the most important export, with 4.8 million tons sent abroad between January 1 and September 30, 2017.


Romania became net importer of timber (Source:; Date: 2018-01-07; Author: Unspecified)

For the first time in its history, Romania became a net importer of timber in 2017. The situation is the result of an increase in local prices caused by legislation changes, according to the activity report that outgoing Minister Doina Pana attached to her resignation last week. Local timber is now more expensive than foreign timber, even including the transport costs.


Spot market accounts for 40% of traded electricity (Source:; Date: 2018-01-07; Author: Unspecified)

Approximately 40% of the national demand for electricity was traded on the Next Day Market (PZU), the spot market of OPCOM, in December. The average price reported by the platform was down 33% compared to the previous month, falling from EUR 55.46 per MWh to EUR 36.87 per MWh, according to a press release. European prices ranged between EUR 30 and EUR 66, which puts the local price 20% below the EU average.


Financial News (3)

ROBOR rate down (Source:; Date: 2018-01-07; Author: Unspecified)

The three-month ROBOR rate dropped to 2.01%, the lowest figure since November 14, according to the National Bank of Romania (BNR). The rate is used to calculate the adjustable interest rate of most RON-denominated loans.


BNR adviser dispels rumors (Source:; Date: 2018-01-07; Author: Unspecified)

The European Central Bank did not propose the elimination of bank deposit guarantees and the EUR 100,000 cap will not be modified, according to statements made by Cristian Bichi, adviser to the BNR governor. Bichi's statements came in response to a series of speculations and rumors published by the media.


Analysts say interest rate could climb to 2.5-3% (Source:; Date: 2018-01-07; Author: Unspecified)

The key interest rate will make a comeback this year, with most analysts expecting a 1 pp increase, from the all-time low of 1.75% where the interest rate has been sitting since the spring of 2015. Economists expect the interest rate to be somewhere between 2.5% and 3% by the end of this year. The higher than expected inflation rate and the amplification of investor aversion to Romania because of regulatory uncertainty could force BNR to increase the key rate much faster than anticipated.


Investment News (1)

Road builders to resume work on January 8-9 (Source:; Date: 2018-01-07; Author: Unspecified)

The builders of roads announced they would resume construction operations beginning with January 8 or 9, provided the weather allows it, according to Alin Serbanescu, spokesman of the National Road Infrastructure Administration Company (CNAIR). One company has already posted on Facebook photos of crews at work.


Politics (2)

Romanian embassy to stay put in Tel Aviv (Source:; Date: 2018-01-07; Author: Unspecified)

Romania will refrain from setting up diplomatic missions in Jerusalem, in compliance with the UN General Assembly resolution of December 21. The message was relayed to the Israeli prime minister by President Klaus Iohannis during a phone call held on Friday. The Palestinian Embassy to Bucharest hailed the official statement shortly after.


"If honest people don't get involved in the rule-making process, those who call anti-corruption 'the parallel state' will rule by cunning" (Source:; Date: 2018-01-07; Author: Unspecified)

"If honest people don't get involved in the rule-making process, those who call anti-corruption 'the parallel state' will rule by cunning," wrote former prime minister Dacian Ciolos on his Facebook page. Ciolos added that the Romania 100 Platform would continue to propose and support projects showing how things can be done better.


Social (1)

Emergency services jammed by doctor protest (Source:; Date: 2018-01-07; Author: Unspecified)

Ambulance and Emergency Room crews are working around the clock. In order to avoid paying for prescriptions and visits, patients stopped going to the family doctors who refused to sign the new deals with CNAS. The 112 service is getting hundreds of extra calls.