News

Daily Newsletter - 9 September 2020

Summary

Macroeconomic News (3)

Romania's digital public services could reach EU standards in three years

EY Romania has drafted a program for the digitization of public services that should bring Romania at the same level as the more advanced European countries in three years, according to the firm. The program was commissioned by the Romanian Digitization Authority (ADR) and the Cabinet's Secretariat General.

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Economy contracted 3.9%

The National Statistics Institute (INS) announced that the economy had contracted 3.9% in the first half of this year, in seasonally adjusted figures. The nominal prices figure is above RON 510 billion. The first six months account for 45% of the GDP.

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More than a third of Romania's households find it hard to meet current expenses

More than a third of Romanian households (34.1%) find it difficult or very difficult to meet their current expenses. If households that find it somewhat difficult to covering their daily expenses are included, the figure rises to 77.2% of all households, according to a survey by the National Statistics Institute (INS).

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Financial News (3)

Bog'Art in charge of Speedwell's new office project

Speedwell has designated Bog'Art as the company in charge of MIRO, the five-story office building which will be located in northern Bucharest. Work has already started at the site. Around 40% of the building has already been rented by KPMG.

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One United Properties added EUR 25 million to equity

One United Properties announced that it had completed the expansion of its equity by EUR 25 million. The funds will be invested in One Cotroceni Park, the real estate project that OUP is developing at the site of the former Ventilatorul plant.

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ING Bank Romania joins New House program

Individuals looking to buy properties through the New House program can apply with ING Bank Romania beginning with this week. ING was involved in the First House program for six years, helping 15,000 Romanians move into their first home.

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Investment News (1)

Romgaz builds new power plant

Romgaz and GSP Power, a subsidiary of Grup Servicii Petroliere, will build a new power plant in Halanga, on a property owned by the currently bankrupt local CEC. The plant will generate 150 MW from natural gas and 50 MW from solar panels.

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Legislative News (3)

Parliament boosted "Rabla" budgets

In order to help the recovery of domestic demand and support local production, the 2020 budgets of the national programs to replace used vehicles and electrical and electronic equipment would be increased, according to a bill initiated by PSD and adopted by the Senate on Tuesday.

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CCR to discuss Tax Code amendment

The Constitutional Court will discuss on October 7 the complaint filed by the Save Romania Union (USR) regarding an amendment to the Tax Code that forces the wholesale distributors of energy products to own appropriate storage space.

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Senate passes bill giving ANCOM's head minister status

The Senate passed yesterday a bill that makes the position of president of the National Authority for Management and Regulation in Communications (ANCOM) was given the same status as a Cabinet minister, while the vice-president became equal to a secretary of state.

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Social (2)

Average salary up in July

The average gross salary stood at RON 5,468 in July, up RON 99 from the previous month, while the average net salary increased by 2.2% to RON 3,372, similar to the average salary paid in December, 2019, when employees were paid holiday bonuses.

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EUR 500 aid for remote workers extended to state of alert

The Senate has voted to extend the EUR 500 aid granted to remote workers to the state of alert. The money can be used to buy IT equipment and services for employees who worked remotely during the state of emergency and state of alert.

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