Romania’s economy will grow by 6% this year, after the 4.3% forecast
from March, according to the World Bank’s updated projection. The
upwards revised estimate comes after the International Monetary Fund
(IMF) had also improved its forecasts regarding the evolution of
Romanian economy, having estimated a 7% growth rate. According to some
reports viewed by HotNews, BRD and BCR have also revised upwards their
data on GDP evolution, the growth rate approaching 7%.
Companies that are subject to risks amid the climate change agenda
generate 40% of the gross value added in Romanian economy, according to
a report presented yesterday by Florian Neagu, a deputy director within
the National Bank of Romania (NBR)’s Financial Stability Division. He
warned that any delay in certain projects’ implementation could affect
the beneficial effects on economy as a whole.
Romania’s Gross Domestic Product grew by 2.8% in Q1/2021, compared to
Q4/2020, to RON 284.971 billion at current prices, as a seasonally
adjusted series, according to provisional data published by the
National Institute of Statistics (INS) yesterday. In terms of GDP use,
the decrease in the contribution was mainly due to net exports (-2.6%),
a consequence of the 5.4% increase in the volume of imports of goods
and services, compared to the only 0.6% rise in the volume of exports
of goods and services.
The ten most active brokers on Bucharest Stock Exchange brokered RON
14.8 billion cumulated transactions in the first five months of 2021,
up by 56.6% (RON 5.3 billion) against the similar period of 2020. Thus,
the top 10 brokers secured a cumulative market share of 92.45%,
compared to 86.82% in the first five months of 2020, which means that
concentration at the peak has grown year-on-year.
The private pensions market has been the least affected by the COVID-19
pandemic, given its long-term saving and investment policy. Over time,
there have been episodes of volatility to have marked private pension
funds, but their assets have generally increased from one period to
another. Private pension funds (Pillar 2 and Pillar 3) cumulated RON
83.34 billion total assets at the end of March 2021, 33% more than in
the previous year.
The total value of the guarantee requests submitted within the "New
Home" program during the period 29 March – 4 June 2021 exceeded RON 735
million, Finance Minister Alexandru Nazare has announced. He has
pointed out that this represents about 49% of the RON 1.5 billion
ceiling allocated for the current year.
Dairy producer Artesana plans to access European funds to start a goat
farm, an investment that could amount to EUR 1-1.5 million, as the
company has already bought the land for this project, Daniel Donici,
managing partner and co-founder of Artesana, has explained. The company
currently processes 12,000 – 15,000 liters of milk per day, six or even
seven days a week, in its plant in Tecuci, Galati County.
Pro Economica Alapítvány Foundation will invest about EUR 44 million
non-reimbursable funds in several tourism projects in the region of
Transylvania in the following period. The region has major potential,
as proven in the past few years; therefore, investments will generate
substantial economic growth, will create new jobs, but also new
opportunities for tourists.
The regional water infrastructure development project in Iaşi County,
financed through the Large Infrastructure Operational Program (POIM),
was presented yesterday, during an event organized by Iaşi County
Council, in collaboration with the company ApaVital. The investments to
be made amount to EUR 509 million. The project aims to increase the
level of wastewater collection and treatment, as well as the degree of
drinking water supply in 113 localities, part of 41
administrative-territorial units in Iaşi County.
The draft law on some measures regarding the remaining in activity of
persons who meet retirement requisites has been included on the agenda
of today’s Government meeting. Thus, public sector employees are not
allowed to simultaneously receive a pension and a salary, but
pensioners can continue their activity, upon request, until they reach
the age of 70.
The Constitutional Court of Romania ruled yesterday that law no.
55/2020, through which the state of alert is declared in Romania, was
constitutional. Only one constitutional challenge was approved, that of
Article 72, paragraph 2, which does not have an impact on the normative
act as a whole.
The world’s largest oil and gas companies increased investment in clean
energy by 34% in 2020, despite a 6% fall in global energy demand caused
by the coronavirus pandemic, according to new research published on
Tuesday (8 June). Investment in renewables was the least affected by
spending cuts and emerged as the most resilient during the COVID-19
crisis, with oil and gas majors investing $8.8 billion (EUR7.2 billion)
in 2020, compared with $6.6 billion the year before.
Doctor Valeriu Gheorghiţă has stated that the decrease in the
anti-Covid-19 vaccination rate expresses, in fact, the reduction of
people’s willingness to get vaccinated, and those involved in the
campaign cannot do more than what people understand that they have to
do. In his opinion, the fundamental problem has to do with people’s
trust in authorities in general, which has decreased considerably in
all these decades, and which cannot be suddenly regained.
More than 90% of children who needed psychological therapy in the past
year developed emotional disorders related to the pandemic context,
according to a study conducted by Save the Children Romania. The study
indicates that one in three children experienced anxiety and needed
counselling and psychological-emotional support, the percentage having
exceeded 50% in teenagers, going up to extremely serious consequences,
namely suicide attempts.