Prime Minister Nicolae Ciucă
announced on Wednesday, 8 June that the Government had signed a
collaboration agreement with the representatives of the Coalition for
Romania’s Development and pointed out that, during the six months of
governing, authorities had taken "correct and timely decisions to
protect economy and citizens from the effects of crises". The Coalition
for Romania’s Development (CDR) is a private, non-political initiative
made up of the most representative business organisations in Romania,
whose aim is "to provide a coherent basis for consultation with the
Government and other public institutions on issues impacting on the
economic and business climate" in Romania, according to the Coalition’s
website.
Household consumption was the main driver of the 6.5% year-on-year GDP
growth in Q1 of 2022, followed by the expenditure for public
administration’s final consumption, according to data published by the
National Institute of Statistics (INS) on Tuesday. Household
consumption thus increased by 7%, having contributed 4.4% to GDP
growth. Moreover, expenditure for public administration’s individual
final consumption, whose volume rose by 7.5%, contributed 0.6% to GDP
growth, and public administration’s collective final consumption, whose
volume was up by 7.9%, contributed 0.9% to GDP growth.
The war in Ukraine has made the growth outlook far bleaker even though
the global economy should avoid a bout of 1970s-style stagflation, the
Organization for Economic Co-operation and Development (OECD) warned on
Wednesday. The Paris-based organization expects global economy to grow
by 3% in 2022, well below the 4.5% forecast from December. In 2023,
growth is expected to further slow down to 2.8%, from the previous
forecast of 3.2%, according to the OECD report.
The European Union’s Gross Domestic Product grew by 0.7% in the first
three months of this year compared to the previous quarter, but Ireland
and Romania recorded the most significant advance, according to data
published by the EU Statistical Office (Eurostat) on Wednesday. Euro
area’s Gross Domestic Product was up by 0.6% in Q1/2022 compared to
Q4/2021. During the same period, the US Gross Domestic Product
decreased by 0.4%. EU and euro area’s GDP had increased by 0.5% and
0.2% respectively in Q4 of 2021, compared to the previous three months.
The Sentix economic index in the euro area grew considerably in June
2022 after three consecutive declines, according to the latest report
published by Sentix GmbH. The value of the overall index increased by
6.8 points, to -15.8 points, as the expectations index rose by 10
points, to -24 points, and the euro area current situation index was up
by 3.2 points, to -7.3 points.
Aegon Romania, part of the international financial group Aegon, ended
2021 with RON 153.4 million gross underwritten premiums, up by 14.09%
year-on-year, and with a 4.73% market share. Aegon maintained its
position among the top six life insurance companies in Romania
following the increase in the volume of premiums, according to data
transmitted by the institution’s officials on Wednesday. In 2021, the
company granted RON 33.74 million total benefits and compensations to
clients, and the average time needed to settle claims was 1.1 working
days.
Banca Comercială Română has increased interest rates on RON-denominated
term deposits opened online by individuals to 4.2%. Within the same
offer, an interest bonus is granted to all those who choose to cash
their income (salary or pension) into a BCR account, upon opening a
deposit through George – BCR’s Internet Banking or Mobile Banking
platform. The offer applies to newly opened deposits in George and to
those that are extended during the period 3 June - 30 September 2022.
Credit Europe Bank Romania meets the need for digitalization of
businesses in Romania and introduces Avantaj SoftPOS, the app that
offers merchants a fast and secure way to cash sums from the mobile
phone directly. The bank’s merchant clients can now turn any Android
smartphone into a POS terminal with this service offered in Romanian
and English. The app can be rapidly obtained from Google Play by
merchants who choose to become the bank’s clients and ensures a fast
and easy payment experience for both clients and merchants.
Rising prices continue to reduce Romanians’ purchasing power and the
growing inflation continues to erode their savings. To help clients
protect their money and obtain real positive returns, TBI Bank has
launched a new five-year deposit with 10% interest. Moreover, the bank
has upgraded all interest rates on RON-denominated deposit, targeting
clients who prefer short- and medium-term maturities as well. The
record interest offered for the new maturity and the updated interests
on existing deposits are meant to support TBI Bank’s promise to clients
to be the best place for their savings.
The network of multidisciplinary dental clinics Qmed has opened a
second clinic in the town of Popesti-Leordeni, following a EUR 150,000
investment. The Qmed network has thus reached 5 dental clinics, which
provide full dental services at affordable costs to inhabitants of
Bucharest and Popești-Leordeni. The new Qmed clinic in Popești-Leordeni
is equipped with latest generation medical equipment, which facilitates
correct diagnosis and successful dental treatments.
CBRE Romania, the leader of the real estate consultancy market, has
secured its first location for Romanian retailer Vagabond Studio, in
one of the biggest shopping centers in London, under the "Made by
Society" brand. Vagabond Studio is the first Romanian retailer to enter
the British market assisted by a Romanian real estate consultant,
following an approximately EUR 800,000 investment, according to a press
release issued by the company.
HTEC Group, a technology, consultancy and software services company
founded in Serbia and headquartered in the United States of America,
announced on Wednesday that it would enter the Romanian market and
would create up to 1,000 new jobs in Bucharest, Cluj-Napoca, Timișoara
and Iași. In Romania, HTEC Group is actively recruiting at all levels
of seniority, attracting engineers, developers, project and product
managers, designers, experts, business and HR consultants. At the
beginning of this year, the group secured a USD 140 million investment
from Brighton Park Capital, an investment firm headquartered in
Greenwich.
Regina Maria private healthcare network has added Muntenia Hospital in
Pitesti, founded and managed by SIF Muntenia up to present, to its
portfolio. The acquisition, whose finalization is subject to the
Competition Council’s approval, completes the healthcare services
offered in the region, providing patients with an integrated medical
circuit. Over the past ten years, Regina Maria has invested nearly EUR
200 million in the development of the healthcare system in Romania, by
modernizing or opening new units, by purchasing highly-performing
equipment and by training medical teams.
On Wednesday, the Chamber of Deputies adopted the draft law authorizing
the Government to issue ordinances during the parliamentary recess. The
draft law regulates the Government’s authorization to issue ordinances
in areas not covered by organic laws, from the end of the first
ordinary session of 2022 until the Parliament’s works are resumed in
the second ordinary session of 2022.
The draft law allowing people to vote in local and European Parliament
elections starting from the age of 16 was signed by Senate President
Florin Cîțu and PNL Vice-President Alina Gorghiu. The document was
submitted in Parliament in April, upon the proposal of Political
Sciences students. The initiator is the non-affiliated MP Alexandru
Kocsis, and the former Minister of Education and current chair of the
Senate’s Education Committee, Monica Anisie joined the initiative,
having registered the legislative proposal with the Senate, according
to the Constanta Students’ Association.
The draft law submitted by Save Romania Union (USR) deputies Simina
Tulbure and Oana Țoiu, targeting the integration of students from the
Diaspora into the Romanian education system, was unanimously voted in
the Chamber of Deputies on Wednesday, according to a press release
issued by the party. The draft law aims to support students and their
families who were part of the Romanian Diaspora, as well as teachers
who teach students who previously went to school in another country.
During the plenary session on Wednesday, 8 June, Romanian MPs adopted a
legislative proposal establishing a ban on the participation in
presidential elections for people who were convicted of a criminal
offence at the time of their candidacy, Agerpres reports. The
legislative proposal amending and completing Law 370/2004 on the
election of the President of Romania, was adopted with 223 votes in
favor, one vote against and 22 abstentions.
EU lawmakers on Tuesday (7 June) agreed on a continental target to
establish better gender balance on the boards of companies in Europe.
Negotiators from the EU member states and European Parliament said they
found common ground on a proposal that was first made by the European
Commission, the EU’s executive, in 2012.
On Wednesday, the Chamber of Deputies voted on a draft law increasing
the value of food vouchers from RON 20 to RON 30. The vote cast during
the Chamber of Deputies’ plenary session is decisive, after the draft
law has already passed the Senate. The increase in the value of food
vouchers had been decided by the ruling coalition at the beginning of
2022, but the law still needs to be promulgated by President Klaus
Iohannis in order to enter into force.
Children’s allowances paid by the Romanian state in April 2022 totaled
RON 1.034 billion, the average amount paid having been of RON 282.14
per beneficiary, according to data centralized by the National Agency
for Social Inspection and Payments (ANPIS). 3,665,411 children
benefited from this aid in April, most of them in Bucharest (364,210)
and in Iași (192,124), Suceava (138,115) and Constanța (129,112)
counties. The highest average sums were paid in the counties of
Botoșani – RON 289.69, Caraș-Severin - RON 287.72 and Alba - RON
286.42.