ECONOMY & COMPANIES
-Romania’s national commission for prognosis and statistics in its spring report cuts its year-end inflation outlook to 7.4% from a previous projection of 8% in January 2023, and kept its forecast on the country’s GDP growth at 2.8%.
–The Energy Ministry, has boosted its ownership stake in state-run Oil Terminal, the largest port operator in the Port of Constanta, to 87.8% from 59.6%, following a share capital increase aimed at including the state’s plots of land into the company’s patrimony.
–Romanian investors have made real estate acquisitions worth €1.1 billion in the last 5 years, accounting for 28% in the overall volume traded in this period, becoming the most active buyers of income-producing real estate assets in the country, data provided by real estate consultancy Cushman & Wakefield Echinox, showed.
–A total 1,644 companies went insolvent in the first quarter of 2023 in Romania, which is similar to the level recorded in the same period in 2022 when 1,610 companies went insolvent, an analysis by insolvency specialist CITR revealed.
–Romania’s ruling coalition has decided to cut the Government’s expenses with goods and services by 10%, the Prime Minister Nicolae Ciuca announced on Monday (May 8).
|EUR 4.9202||GBP 5.6548|
|USD 4.4806||CHF 4.0260|
|BGN 2.5156||MDL 0.2485|
(Source: National Bank of Romania BNR)
BNR INTEREST RATES
|14.53% (March 2023) BNR Target 2022: 2.50% (variation band: ± 1pp)|
BUCHAREST STOCK EXCHANGE (BVB) INDICES
|BET -0.39%, BET-TR -0.39%, BET-FI -0.01%, BET-NG -0.20%, BET-XT –0.33%,|
BETXT-TR –0.33%, BET-BK -0.27%, RO-TX -0.60%, BETAeRO 0.06%
CAPITAL MARKET COMMENTARY
|Bucharest stocks traded in the red on Tuesday mirroring the trend across Europe where major markets ended the trading session in negative territory. Investors awaited the latest inflation data from Germany, as well as a new monetary policy decision and GDP data from the United Kingdom scheduled for release throughout this week.|