TODAY’S NEWS
ECONOMY & COMPANIES
–Romanian economy’s largest actor is energy giant OMV Petrom, which posted RON55 billion revenue in 2022, up 137% year-on-year, followed by OMV Petrom Marketing, which operates about 600 Petrom and OMV gas stations, and generated RON27 billion revenue, Ziarul Financiar reported.
–Romania’s industrial sales (on the domestic and external markets) dropped 16.3% in nominal terms in April 2023 m-o-m, data from the National Institute of Statistics (INS) showed. Meanwhile, new industrial orders in manufacturing, for the total (on the domestic and external markets) saw a decline of 18%.
–Final electricity consumption decreased by 7.7% in the first four months of 2023 y-o-y, considering that electricity consumption in the local economy dropped by 5.4%, household consumption plunged by 13.8%, and public lighting by 16.3%, according to INS.
–Brasov-Ghimbav International Airport, the only international airport built in Romania from scratch in the last 50 years, officially opened for flights on Thursday (June 15) when flag carrier TAROM run a “symbolic” flight from Bucharest to Brasov. Ghimbav airport is the first in Romania with a control tower operated remotely with the help of several video cameras.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9604 | GBP 5.7952 |
| USD 4.5317 | CHF 4.0780 |
| BGN 2.5362 | MDL 0.2560 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 10.6% (May 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 1.84%, BET-TR 1.81%, BET-FI 1.24%, BET-NG 0.94%, BET-XT 1.61%, BETXT-TR 1.59%, BET-BK 1.33%, RO-TX 1.12%, BETAeRO |
CAPITAL MARKET COMMENTARY
| Bucharest stocks head into the weekend higher in line with rest of Europe buoyed by data showing a sharp deceleration in eurozone inflation in May, and on optimism about further stimulus from China to spur growth in the world’s second largest economy. |
