POLITICS
14:45 Romania’s Prime Minister Nicolae Ciuca during a meeting on Thursday (Feb. 23) with the EU diplomatic corps in Bucharest, reiterated that Romania’s accession to the Schengen area remains a priority, Agerpres reported.
09:18 The president of the Republic of Moldova, Maia Sandu, will be in Bucharest on Thursday (Feb. 23) in a working visit, and will be received by president Klaus Iohannis, at the Cotroceni palace, according to the Presidential Administration.
09:02 Prime Minister Nicolae Ciuca told the Romanian Agri Trade Summit on Wednesday (Feb. 22) that access to the internal and external market of Romanian agri-food products must be a strategic objective of the government program.
ECONOMY
16:17 Private lending in Romania grew by 11.5% in nominal terms (-3.1% in real terms) in January 2023 versus January 2021 to RON364 billion, as local currency lending increased by 6.4% (-7.5% in real terms) and foreign currency lending expressed in lei by 25% (+25.5% in real terms when expressed in euros), National Bank of Romania bank data showed on Thursday (Feb 23).
08:56 More than 12,700 unemployed were registered by the Bucharest Municipal Employment Agency at the end of January, with an unemployment rate staying at 1.04%.
08:48 The number of housing units sold in Bucharest in 2022 increased by 11% from 2021, but the falling affordability and the restrictive interest rates whetted Romanians’ appetite for rents, a Colliers survey reveals.
08:32 Romania’s economic growth will slow down significantly this year, but will revive in 2024 more than previously anticipated, the minutes of the monetary policy meeting of the Board of Directors of the National Bank of Romania (NBR) showed.
08:22 Credit rating agency Fitch confirmed on Wednesday (Feb. 22) the long term rating of “BB” to the state-owned Romanian banking institution CEC Bank, with stable perspective, the viability rating of “bb” and the government support rating of “b”.
COMPANIES & MARKET
18:38 Romanian small and medium-sized enterprises (SMEs) are increasingly open to new technologies, and half of them declare themselves “early adopters” when it comes to innovative solutions, a market research conducted by Glovo and research company Ipsos at end-2022 reveals.
08:16 In 2022, more than 6,500 companies went insolvent in Romania, 7% more than in 2021 and 2% more than in 2019, according to Coface Romania survey.
08:11 Romanian integrated oil company OMV Petrom contributed in 2022 to the state budget of Romania with almost 20 billion lei, approximately the double against 2021 and ensured 7% of the fiscal revenues to the consolidated state budget of Romania.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9115 | GBP 5.5768 |
| USD 4.6335 | CHF 4.9709 |
| BGN 2.5112 | MDL 0.2459 |
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 1.75%, BET-NG 0.74%, BET-XT 0.57%, BETXT-TR 0.57%, BET-BK 0.51%, RO-TX 0.41%, BETAeRO 0.56% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the green on Thursday mirroring the trend across Europe where major stock indices finished the session off mostly with gains despite Eurozone inflation slowing less than estimated in January and remaining at an elevated level. The harmonized index of consumer prices gained 8.6% on a yearly basis in January, following December’s 9.2% gain, according to Eurostat. |
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