Romania Market News – 28/09/23

TODAY’S NEWS ECONOMY -Financial analysts part of CFA Romania association see the Romanian currency falling to an average exchange rate of 5.0753 units/euro in the coming 12 months, while the average inflation rate is seen at 7.58%, up from 7.52% anticipated in July. -The 2% tax charged on the banks’ turnover over a two-year period will bring 350 million RON to the

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EBRD forecasts fall in Romania’s economic growth to 1.8% in 2023

Growth in Romania is now expected at only 1.8% in 2023 as a whole,  considering the slowdown in the first half of the year, according to a report published on Wednesday (Sept. 27) by the European Bank for Reconstruction and Development (EBRD). The London-based financial institution’s  projection was downwardly revised from an initial 2.5% one in May. Romania’s economy proved resilient in

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Romania Market News – 27/09/23

TODAY’S NEWS ECONOMY -Romania is forecast to grow by only 1.8% in 2023, the European Bank for Reconstruction and Development said. The projection was downwardly revised from an initial 2.5% one in May. -Bucharest’s land market has remained active over the past 12 months in terms of acquisitions made by residential, logistics and retail real estate developers by particularly targeting the former

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Romania Market News – 26/09/23

TODAY’S NEWS ECONOMY -Private lending in Romania increased by 5.5% in nominal terms (down 3.6% in real terms) to RON378,75 billion last month compared to August 2022, the National Bank of Romania (BNR) data showed on Monday (Sept. 25). -Romania’s Finance Ministry raised RON1.8 billion from banks on Monday (Sept. 25), through two issues of state bonds, at annual average yields of

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Romania Market News – 25/09/23

TODAY’S NEWS ECONOMY -ING Bank has revised its 2023 growth forecast for Romania from 2.5% to 1.5% based on a slightly disappointing first half of the year and limited prospects for an acceleration in the second part. The bank is also revising lower its long-standing GDP estimate of 3.7% for 2024 as it now expects real growth of only 2.8%. -Four out

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Romania Market News – 20/09/23

TODAY’S NEWS ECONOMY -The Ministry of Finance proposes that certain tax measures aimed at introducing new taxes or increasing existing ones and eliminating certain facilities may be applied within a period of less than 6 months from publication in the Official Journal, in extraordinary situations of budget deficit, Agerpres reported. -The number of sold income – generating real estate properties (office, retail,

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Romania Market News – 19/09/23

TODAY’S NEWS ECONOMY Romania’s Finance Ministry raised RON767 million from banks on Monday (Sept 18) selling treasury bills maturing in 2028, at an annual average yield of 6.59%, according to the National Bank of Romania (BNR). -The Ministry of Finance continues to issue Fidelis government bonds for retail investors and carries out a new selling offer on the Bucharest Stock Exchange between

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Romania Market News – 11/09/23

TODAY’S NEWS ECONOMY -Net investment in Romania’s economy stood at RON 70.051 billion in H1 2023, up 13.5% y-o-y, the National Institute of Statistics (INS) data showed. -The Government approved on Friday (Sept. 8) a draft law for the ratification of the loan agreement between Romania and the International Bank for Reconstruction and Development, worth EUR 591.9 million. -Fitch Ratings has affirmed

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One United Properties gross profit up 17% in H1 2023

Bucharest-listed One United Properties, the leading green investor and developer of residential, mixed-use, commercial, and office real estate in the Romanian capital, has convened its shareholders for October 9, 2023. The agenda of the ordinary general meeting of shareholders includes the approval of the distribution of interim dividends from the company’s profit corresponding to the first six months of the financial year

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Fintech Fagura gets approval to expand ops in Romania

Moldovan fintech platform Fagura got the green light from Romania’s Financial Supervisory Authority (ASF) to start operations in the country of 20 million people. Key elements of this approval process included demonstrating a robust product and technology as well as a solid business plan for the medium and long term, proven risk assessment capabilities, establishing a legal entity in Romania, and committing

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