POLITICS
10:18 Romania’s Prime Minister Nicolae Ciuca welcomed Land of Bavaria PM Markus Soder, who is paying a visit to Romania, at the Victoria Governmental Palace on Monday (Feb. 13). The German official will also be welcomed by Romania’s President Klaus Iohannis at the Cotroceni Presidential Palace.
10:15 National leader of the Social Democratic Party (PSD ) Marcel Ciolacu told Prima News private broadcaster on Sunday evening said that he believes the government rotation will take place scandal-free. He also said that it is possible for the rotation to be completed by June 1.
10:11 MEP Eugen Tomac (EPP, People’s Movement Party – PMP) told a press conference on Saturday at the PMP headquarters that CJEU proceedings over the lawsuit initiated by him for Romania’s not being accepted to join the Schengen could last between one year and a half and two years.
ECONOMY
13:31 Romania’s economy will increase by 2.5% this year and by 3% in 2024, while the inflation rate will stand at 9.7% in 2023 and 5.5% in 2024, according to the winter 2023 economic forecast, published by the European Commission on Monday.
11:33 Over 13 million tonnes of cereals and oilseeds from Ukraine transited through Romania to reach international markets, Mircea Abrudan, head of the Chancellery of the Prime Minister of Romania, said in the Romanian city of Botosani on Friday (Feb.10) while attending the reopening of the Racovat – Dyakivtsi Border Crossing Point (PTF) between Romania and Ukraine.
11:13 The average net monthly salary earning in Romania in December 2022 stood at RON 4,398, up 6.2% on a monthly basis and 13.4% y-o-y, the National Institute of Statistics (INS) data showed.
11:11 Romania’s government debt stood at almost 654.545 billion RON in November 2022, up from 651.508 billion RON in October. The government debt-to-GDP ratio rose to 48.3% from 48% in October, according to data published by the Finance Ministry.
COMPANIES & BUSINESS
11:23 The first inter-regional electric railway frame (RE-IR) of the 37 to be produced by France’s Alstom for Romania will arrive at the Faurei Railway Testing Centre in July 2023, in order to carry out the dynamic tests, the Railway Reform Authority (ARF) wrote on Sunday (Feb. 12), on its Facebook page.
10:52 In 2022, company deregistrations in Romania advanced 10.08% from the previous year to 73,639, the National Trade Register Office (ONRC) data show. The activity sectors with most company deregistrations were wholesale & retail trade, the repair of motor vehicles and motorcycles (up 6.59%), construction (8.08%), and professional, scientific and technical activities (up 10.33%).
10:01 The National Railway Company CFR SA recorded last year a 65% increase in freight traffic through the Halmeu station, a railway point on the northern border with Ukraine, CFR announced on Friday.
SOCIAL
11:01 On Sunday, 72,333 people entered Romania through the border crossing points, of whom 6,487 were Ukrainian citizens, according to the General Inspectorate of the Border Police.
MORE NEWS FROM ROMANIA
TIMISOARA
11:23 More than 100 high-ranking officials from 41 countries will attend next weekend the official inauguration of Timisoara as European Capital of Culture, according to the organizers.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9037 | GBP 5.5284 |
| USD 4.5915 | CHF 4.9741 |
| BGN 2.5072 | MDL 0.2441 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 16.37% (Dec. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.69%, BET-TR 0.69%, BET-FI 0.24%, BET-NG 0.72%, BET-XT 0.62%, BETXT-TR 0.62%, BET-BK 0.89%, RO-TX 0.55%, BETAeRO 1.12% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks kicked off the new trading week in the green as European Commission raised Romania’s 2023 economic growth forecast to 2.5%. A recovery to 3% in economic growth is projected for 2024, amid easing inflationary pressures, lower interest rates and an improving external outlook. |
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