POLITICS
11:29 The Senate extended, on Monday (Feb. 13), in plenary sitting, with 70 votes “for”, 22 “against” and one abstention, the deadline for the adoption of the Government’s draft law on the reduction of expenses with service pensions, at 45 to 60 days.
11:21 Chairman of the Social Democratic Party (PSD) Marcel Ciolacu deemed on Monday (Feb. 13) as a false topic the possibility that the head of state may not appoint him prime minister at the government rotation, adding that the protocol concluded by the current coalition will be respected, Agerpres reported.
10:31 Incoming ambassador of the United States of America to Romania Kathleen Ann Kavalec is presenting today her letter of credence. The American diplomat will be welcomed at the Cotroceni Presidential Palace by President Klaus Iohannis.
ECONOMY
11:55 Romania’s primary energy resources dropped 0.6% in 2022, y-o-y while the final energy consumption was lower by 7.2%, National Institute of Statistics (INS) data showed.
11:48 Industrial output in Romania registered a 1.8% decrease in 2022, y-o-y, according to INS data.
11:45 Romania’s annual inflation rate fell to 15.07% in January 2023 from 16.37% in the previous month, below market expectations of 15.8%. This was the lowest print since last July, INS data showed.
11:17 In 2022, Romania’s economy grew by 4.8% and the Gross Domestic Product (GDP) in the final quarter of 2022 was, in real terms, higher by 1.1% compared to the previous quarter, INS data showed.
COMPANIES & MARKET
18:24 The turnover of Romanian wine producers grew by over 20% compared to 2020 at the highest level in history, of almost lei 2.1 billion in 2021, according to KeysFin analysts’ estimates.
11:42 The Romanian capital market kicked off the new year with a 4% increase and a new all-time high number of 133000 investors, according to Bucharest Stock Exchange.
11:27 More than 4.5 million homes have come out of the guarantee period of their earthquake-resistant structure, in Romania, according to online real estate sales platform imobiliare.net. There is a need to renew the housing stock with almost 200,000 units, annually, either new units or a rehabilitation of those built before the 1977 earthquake, the platform’s analysis shows.
10:26 State-owned energy company Hidroelectrica has reached an 8.75% share of the energy supply market, according to data provided by the energy market watchdog ANRE for the first 10 months of 2022.
SOCIAL
10:34 As many as 63,388 people, including 6,739 Ukrainian citizens, entered Romania on Monday (Feb. 13), according to the the General Border Police Inspectorate (IGPF).
MORE NEWS FROM ROMANIA
BRASOV
Brasov in central Romania is building a photovoltaic park, which will produce enough electricity to almost completely cover the consumption of public buildings and services, according to mayor Allen Coliban. The city obtained funding of over RON 40 million through the Operational Programme for Large Infrastructure (POIM) for the project.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9012 | GBP 5.5563 |
| USD 4.5578 | CHF 4.9605 |
| BGN 2.5059 | MDL 0.2447 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 15.07% (Jan. 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.42%, BET-TR -0.42%, BET-FI -0.17%, BET-NG -0.15%, BET-XT -0.35%, BETXT-TR -0.35%, BET-BK -0.45%, RO-TX -0.41%, BETAeRO 0.58% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the red on Tuesday as European markets were choppy in afternoon trade after U.S. inflation grew slightly more than expected. |
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