TODAY’S NEWS
ECONOMY & COMPANIES
-Arrivals in tourist reception structures (including apartments and rooms for rent), went up by 24.3% y-o-y in the first quarter of 2023, the National Institute of Statistics data showed.
–Entrepreneurship and Tourism Ministry (MAT) will launch Business Incubators Programme at year end, Adrian Panait, deputy director general, Directorate General for Entrepreneurship and Financing Programmes with MAT, told a conference on Thursday (May 4).
–Romanian farmers will receive a total of compensation package of 50 million euros, to cover for the losses suffered amid the surge in grain imports from Ukraine, Prime Minister Nicolae Ciuca told a government meeting on Thursday (May 4).
–The local insurance market reached a gross underwritten premium volume of RON16.5 billion in 2022, up 16% y-o-y, according to Romania’s financial supervisory authority ASF.
–Italian banking group UniCredit reported EUR64 million net profit from its Romanian operations in the first quarter of 2023, up around 45.3% from the consolidated gain of the same period a year ago.
-Goods and services trade (exports and imports) between the UK and Romania stood at GBP 8.7 billion in the four quarters to the end of Q3 2022, up 47.9% or GBP 2.8 billion, the UK’s Department for Business and Trade data showed.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9295 | GBP 5.6074 |
| USD 4.4601 | CHF 4.0252 |
| BGN 2.5204 | MDL 0.2491 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 14.53% (March 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.73%, BET-TR -0.73%, BET-FI 0.00%, BET-NG -1.71%, BET-XT –0.72%, BETXT-TR –0.72%, BET-BK -0.93%, RO-TX -0.96%, BETAeRO -0.62% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks continued their losing streak mirroring the trend across Europe. Monetary policy discussions remained at the center of attention as the European Central Bank raised its key interest rates by a quarter of a percentage point. Higher rates, coupled with financial sector jitters, seemingly continued to spur negative sentiment. |
