Ro Market - Page 2

ECONOMY -Romania saw an 86% increase in the number of FDI (foreign direct investment) projects last year, making it the fifteenth most attractive European investment destination, up seven places from the previous year, according to the 2023 edition of the annual report EY Romania Attractiveness Survey. -Romania’s Finance Ministry raised RON1.16 billion from banks on Monday (Dec. 18) selling bonds with a

ECONOMY -Romania’s industrial sales (on the domestic and external markets) increased by 2.5% in nominal terms in October m-o-m and by 3.1% on an annual basis, data from the National Institute of Statistics (INS) showed. -The 2024 state budget and the state social insurance budget for 2024 draft laws were approved by the government on the Thursday evening sitting, despite a negative

ECONOMY -In the third quarter of 2023, the employment rate for the working age population (15-64 years) was 63.3%, increasing as against the one recorded during the previous quarter, data from the National Institute of Statistics showed. -Romania’s Finance Ministry raised RON1.5 billion from banks on Thursday (Dec. 14), selling government paper in two auctions, at annual average yields of 6.37% and

ECONOMY Romania’s central bank latest Financial Stability Report (December 2023) shows that the main systemic risks to financial stability have remained the same since the previous Report, yet global economic and geopolitical uncertainties have amplified. Of the four systemic risks, two are assessed as severe, of which the risk from external developments is seen becoming more relevant in the period ahead. -Romania’s

ECONOMY -Romania’s annual inflation rate eased for the ninth straight month to 6.72% in November 2023 from 8.07% in the previous month, below market forecasts of 7.3%. This was the lowest reading since September 2021. -Net investments in Romania’s economy stood at RON118 billion in Jan-Sept 2023, up 14.4% on an annual basis, with new construction works accounting for 62.6% and purchases

ECONOMY -While the rest of Europe teeters on the edge of recession, Romania’s economy is proving to be a lot more robust, according to Valentin Tataru, chief economist for Romania at ING. -Fitch Ratings has affirmed Romanian UniCredit Bank at ‘BBB’, with a Stable Outlook. It also confirmed outlooks for Romanian BCR and BRD at BBB+ with a Stable Outlook and affirmed

ECONOMY -Romania’s GDP growth was upwardly revised to 1.4% for January-September 2023 year-over-year by the National Institute of Statistics (INS). -The number of building permits for residential buildings in Romania decreased by 22.2% in the first 10 months of 2023 on an annual basis, according to data published by the National Institute of Statistics (INS). -Romania’s Constanta harbor boasts Europe’s third biggest

ECONOMY -Romanian authorities issued 3,002 residential building permits in October 2023, down 2.6% m-o-m and down 8.8% y-o-y, the National Institute of Statistics (INS) data showed. -Romanian executives forecast a period of stability for the activity in the manufacturing industry, retail trade and services sectors in November 2023-January 2024, a survey conducted by the INS reveals. -Private lending in Romania increased by

ECONOMY -Financial analysts part of CFA Romania project a 6.28% inflation rate while expect the Romanian leu to drop to 5.0541 units/Euro in the next 12 months. -Romania’s banking system saw a record net profit of more than RON10 billion (EUR2 billion) in January-September 2023, more than 40% higher than the nine-month profit in 2022, Ziarul Financiar reported. -Romania’s new pension law

ECONOMY -Construction production in Romania increased by 13.1% in the first nine months of 2023 when adjusted for seasonality, the National Institute of Statistics (INS) data showed. -Cash, card at the POS and account-to-account transfer are the top 3 payment methods for Romanians, according to the Digital Payments Index, a report developed by Mastercard. -2023 sees intense import and export activity for