ECONOMY
-Credit rating agency Moody’s affirms Romania’s Baa3 ratings, maintains stable outlook, in line with S&P and Fitch. Moody’s expects economic growth to rebound to 3.2% next year from 2% in 2023 and to accelerate to 3.5% in 2025.
-Fitch Ratings has placed Romanian UniCredit Bank’s ‘bb’ Viability Rating (VR) on Rating Watch Positive (RWP). The lender’s Long-Term Issuer Default Rating (IDR) has been affirmed at ‘BBB’ with a Stable Outlook.
-Romania’s e-commerce market will maintain its growth pace, set to near EUR 9.76 billion in 2023, according to PayU GOP Romania, the leader of local online payment market.
COMPANIES
Romanians between the ages of 35 and 44 are at the top of the list when it comes to launching new companies in 2023, especially in the IT sector, an analysis StartCo reveals.
REAL ESTATE
The volume of investments on Romania office segment stood at EUR15 million in the third quarter of 2023, with the overall volume expected to revolve around EUR69 million for the whole 2023, according to data provided by real estate consultancy CBRE Romania.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9695 | GBP 5.7391 |
| USD 4.6224 | CHF 5.1564 |
| BGN 2.5408 | MDL 0.2578 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.78%, BET-TR 0.77%, BET-FI 0.95%, BET-NG 0.33%, BET-XT 0.74%, BETXT-TR 0.74%, BET-BK 0.49%, RO-TX 0.53%, BETAeRO 0.36% |
CAPITAL MARKET COMMENTARY
| Bucharest equities traded in the green on the first trading day of the week bucking the trend across Europe where major stock exchanges closed with mostly lower results. During the day, market participants received disappointing data on the German service sector which fell during October. |
