ECONOMY
-Romania will post economic growth of around 3% this year, followed by 3.5% in 2025, but in parallel public finances will worsen further, becoming a reason of concern, with deficits of around 5%, a country risk analysis conducted by Allianz Trade revealed.
-Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) grew by 0.1% in unadjusted data and by 1.5% when adjusted for seasonality and number of working days, in December 2023 on an annual, data from the National Statistics institute (INS) showed.
-Romania’s Risk Assessment was upgraded from B to A4 according to a Coface Country and Sector Risk Barometer – Q4/2023.
COMPANIES
-Groupama was still the leading company on the insurance market, reaching a market share of almost 22% in January-September 2023, Ziarul Financiar reported.
-Bucharest-listed investment fund Fondul Proprietatea is readying the stock market listing of state-owned company Salrom, the only salt producer in Romania, according to data from the budget of revenue and expenditure for 2024.
-The Local Development Agency, a public company having the northwest city of Oradea as majority shareholder, attracted total investments of EUR28.3 million in 2023, which will create 10,200 jobs until 2028, according to Oradea’s City Hall. The city is located just 8 miles east of Romania’s border with Hungary.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9769 | GBP 5.8377 |
| USD 4.6228 | CHF 5.2971 |
| BGN 2.5446 | MDL 0.2601 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.21%, BET-TR 0.21%, BET-FI -1.02%, BET-NG 0.21%, BET-XT 0.14%, BETXT-TR 0.15%, BET-BK 0.13%, RO-TX -0.27%, BETAeRO 1.64% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed higher on Wednesday bucking the trend across Europe where markets indices ended the trading session with losses as uncertainty about the outlook for interest rates rendered the mood cautious. Investors also assessed the economic health of the region, tracking the latest batch of economic data. |
