Romanian market

Romania Market News – 10/11/23


-The trade deficit in Romania decreased by 26% to €7.07bn in Q3 on an annual basis, driven by subdued demand for consumption and lower cost of energy imports, data from the National Institute of Statistics (INS) showed.

-The National Bank of Romania (BNR) kept its key monetary policy rate at 7% for the seventh consecutive meeting in November 2023, in line with market expectations, citing a downward trend in inflation since February 2023.

-In the first half of 2023, the average number of employees in the local services outsourcing industry increased by 10%, salaries grew 9% while the personnel turnover rate fell to 14% from 18% in the same period of 2022, according to a report by the Association of Business Service Leaders in Romania (ABSL).

-The Finance Ministry raised RON825.4 million from local banks on Thursday (Nov. 9) selling bonds due in October 2033, at an annual average yield of 6.87%, the National Bank of Romania (BNR) data showed.

-The Ministry of Finance published a draft Emergency Ordinance which reverts to the ceilings provided for in Law 70 of 2015 regarding cash payments. The authorities justify the decision by the fact that “Romanian society is not ready at this moment to limit the use of cash”, Agerpres reported.

-The government has endorsed the new Pension Law, promoted by the Social Democrats (PSD), a bill that envisages 40% average pension hike in September 2024. Romania will hold presidential and parliamentary elections in November 2024



BET -0.02%, BET-TR -0.02%, BET-FI 0.56%, BET-NG 0.09%, BET-XT 0.04%,
BETXT-TR 0.03%, BET-BK 0.05%, RO-TX -0.28%, BETAeRO 0.31%


Bucharest equities traded mostly higher as rest of Europe closed lower hurt by some disappointing regional economic data, and concerns about the outlook for interest rates after hawkish comments from officials from Federal Reserve, the Bank of England and European Central Bank.
(Graph source: BVB)