Ro Market

ECONOMY -Romania’s Finance Ministry raised RON1.5 billion from banks on Thursday (February 8), via two bond issues, at annual average yields of 6.03% and 6.45%, respectively, the National Bank of Romania (BNR) data showed. -In 2023, Raiffeisen Euro Obligatiuni, Goldman Sachs Romania RON Bond and FDI Globinvest were among the 10 best performing local open-end bond funds, delivering 9% to 15% yields

ECONOMY -The volume of mortgage loans in RON granted by banks in Romania doubled in the fourth quarter of 2023 exceeding RON 10 billion y-o-y, according to the latest data published by the National Bank of Romania, quoted in a press release by Imobiliare.ro Finance. -BRD-SocGen, the third largest bank on the Romanian market by assets, generated RON1.63 billion net profit in

ECONOMY -Romania will post economic growth of around 3% this year, followed by 3.5% in 2025, but in parallel public finances will worsen further, becoming a reason of concern, with deficits of around 5%, a country risk analysis conducted by Allianz Trade revealed. -Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) grew by 0.1% in unadjusted data

ECONOMY -Romania’s e-commerce market hit EUR10 billion in 2023, of which 65% represents goods and products and 35% online services, according to Elena Gheorghe, country manager at PayU GPO Romania, a major online payment services provider locally. -Over 92.5 million tons of freight went through Romanian seaports in 2023, up 22.5% on an annual basis, according to officials of the Maritime Ports

ECONOMY -Romania’s seasonally adjusted unemployment rate was unchanged at 5.4% in November 2023, maintaining its lowest level since September 2021, data from the National Institute of Statistics (INS) showed. -A total of 2,700 residential building permits were issued by authorities in November 2023, down 15.1% on an annual basis, according to INS. -Only 34% of Romanians expect better living conditions this year,

ECONOMY -Romania’s trade balance posted a deficit of EUR25.5 billion in January-November 2023, down 17.6% on an annual basis, data from the National Institute of Statistics showed. -The Romanian hotel market will ad seven new hotels under international brands this year, with around 650 rooms overall, Ziarul Financiar reported. -Romania’s Finance Ministry raised RON1.5 billion from banks on Monday (Jan. 8), selling

ECONOMY -The seven mandatory private pension funds in Romania (Pillar II) boast an annual average yield of 17.9% in 2023, the best annual performance in the entire history of the system and over 10% above the inflation rate estimated for 2023, Ziarul Financiar reported. -Romania’s Competition watchdog said it was analyzing the transaction through which Italian lender Intesa Sanpaolo intends to acquire

ECONOMY -Romania’s industrial production prices for the total (domestic market and non-domestic market) dropped 2.6% in November 2023 on an annual basis, data from Romania’s National Statistics Institute INS showed. -Romania’s Finance Ministry raised RON757 million from banks on Thursday (Jan. 4) selling bonds with a nominal value of RON600 million due in May 2027, at an annual average yield of 6.3%,

POLITICS Romania and Bulgaria will enter the Schengen area of free movement by air and sea borders in March 2024, the Romanian government announced on Wednesday. ECONOMY -The National Statistics Institute revised Romania’s economic growth from 4.7% to 4.1% in 2022. -Private lending in Romania increased by 5.4% in nominal terms (down 1.2% in real terms) to RON384 billion in November 2023

ECONOMY -Romania’s economy slowed down in the second half of 2023 and the real GDP growth will probably be around 2%, below the forecast, according to the Convergence Analysis Report “Romania – Euro Zone MONITOR” no. 14/2023. -The average monthly pension in the country stood at 2,117 RON in the third quarter of 2023, up 0.4% compared to the previous quarter, the