Ro Market - Page 2

ECONOMY -Currency volatility is expected to return in 2024, Brussels-headquartered financial institution iBanFirst warned in its 2024 Foreign Exchange Market Outlook released this week. -Risks continue to intensify (financial stability, social and political risks), inflation remains well above targets set by central banks while the situation on the oil market has became tense again following the war in Israel, Coface Barometer reveals.

ECONOMY -Romania remained 14th in the European Union in terms of new car registrations in (110,711 units) in January-September 2023, up 16.2% y-o-y, 11,759 of which full electric and 32,597 hybrid cars, data from Romania’s and Europe’s carmaker associations (ACAROM and ACEA) showed. -Italy’s UniCredit S.p.A and Greece’s Alpha Services and Holdings S.A. have announced a strategic partnership that includes merging their

ECONOMY -Romania’s government will revise the 2023 economic forecast downwards but stick with an over 2% growth, more optimistic than that of international institutions like the World Bank or the International Monetary Fund, Ziarul Financiar reported citing sources from institutions involved in drafting the forecasts. -The share of Bucharest in the national GDP formation decreased in 2022 to 29.8%, the same percentage

ECONOMY -Romania’s Finance Ministry raised RON999 million from banks on Monday (October 16) selling treasury bills maturing in 2024, at an annual average yield of 6.13%, the National Bank of Romania (BNR) data showed. -The Romanian factoring market surpassed the EUR4 billion mark in H1 2023, up 10% y-o-y, according to the half-yearly research conducted by the Romanian Factoring Association (ARF). -Romanians

TODAY’S NEWS ECONOMY -S&P rating agency affirmed Romania’s rating at BBB-/A3 for long-term and short-term government debt in foreign currency, as well as a stable outlook, the Ministry of Finance (MF) said on Saturday (Oct.14). – Only 11% of Romanians could financially cope with the costs of repairing or replacing goods affected by a potential climate-related disaster that would affect their home,

TODAY’S NEWS ECONOMY – The seven mandatory private pension funds in Romania (Pillar II) generated an annual average yield of 18% in the past year (Sept.2022-Sept. 2023), for the 8 million Romanian participants, Ziarul Financiar reported. -The foreign direct investment (FDI) stock on the construction and property deal segment stood at EUR18.59 billion in 2022, seeing the third highest growth rate among

TODAY’S NEWS ECONOMY -Romania’s trade balance posted a deficit of EUR18.2 billion in January-August 2023, down 17.2% y-o-y, the National Institute of statistics (INS) data showed. -The International Monetary Fund (IMF) downgraded its growth forecasts for the Romanian economy to 2.2% in 2023, 0.2 points less than previously expected, according to its latest report. -The Ministry of Finance (MF) attracted RON 534.8mn

TODAY’S NEWS ECONOMY -PKO Bank Polski, Poland’s largest state-owned bank, with assets accounting for almost 70% of the Romanian banking system, will start operations in Romania in early 2024, local media reported. -The seven private pension funds operating on the mandatory segment in Romania (Pillar II) reported assets of RON114.6 billion in August 2023, the Financial Supervisory Authority data showed. -Romania’s public

TODAY’S NEWS ECONOMY -The National Bank of Romania (BNR) maintained its key monetary policy rate at 7% for the sixth consecutive meeting in October 2023, in line with market expectations. -Romania’s insurance market reached a volume of gross written premiums of RON9.1 billion in the first half of 2023, up 4% y-o-y, according to the country’s Financial Supervisory Authority. -The Ministry of

TODAY’S NEWS ECONOMY -Romania’s financial sector attracted net foreign direct investment (FDI) flow of EUR1.6 billion in 2022, half the 2021 level, the National Bank of Romania (BNR) data showed. -Romania’s industrial production prices for the total (domestic market and non–domestic market) dropped 3.3% in August 2023 y-o-y, data from Romania’s National Statistics Institute (INS) showed. -Romania’s foreign exchange reserves stood at