Romania Market News – 08/12/23

ECONOMY

-Romania’s GDP growth was upwardly revised to 1.4% for January-September 2023 year-over-year by the National Institute of Statistics (INS).

-The number of building permits for residential buildings in Romania decreased by 22.2% in the first 10 months of 2023 on an annual basis, according to data published by the National Institute of Statistics (INS).

-Romania’s Constanta harbor boasts Europe’s third biggest increase in volume of handled freight in 2022, with a 15% plus, only behind Poland’s Gdansk (40%) and Spain’s Cartagena (17%), Eurostat data showed.

-Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) grew by 1.8% in October, INS data showed.

-New car registrations in Romania stood at 132,538 in January–November 2023, up 13.4% on an annual basis to 116,891 units.

COMPANIES

-Companies in Romania with more than 500 employees are obligated to annually report transparently on sustainability and community investment practices, starting from January 1, 2025, in line with the new EU Directive.

-The number of stakeholders in the Bucharest Stock Exchange, the operator of the Romanian capital market, has tripled to 5,724 in the past 4 years, going up 200%, Ziarul Financiar reported.

-UK’s M&G Investments based in London (Municipal & General Securities Company) became a Hidroelectrica shareholder with the listing of the electricity producer on the Bucharest Stock Exchange.

-Romania’s labor market has seen 10 million job applications from January 2023 to date, up 5% y-o-y, local online recruitment platform eJobs data show.

TODAY’S MARKET

EXCHANGE RATES

(Source: National Bank of Romania BNR)

BUCHAREST STOCK EXCHANGE (BVB) INDICES

CAPITAL MARKET COMMENTARY