ECONOMY & COMPANIES
-Romania’s GDP advanced 2.3% year-on-year in the first quarter of 2023, easing from a 4.5% growth in the previous month and missing market expectations of 3.4%, a preliminary estimate from the National Institute of Statistics (INS) showed.
–The three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, continued its downward trend, dropping to 6.60% a year on Tuesday (May 16), according to the National Bank of Romania.
–The Bucharest Stock Exchange (BVB) has announced that the shares of Romania’s largest electricity producer Hidroelectrica will be included in BVB’s indices starting with the first trading day for the company’s shares, Ziarul Financiar (ZF) daily reported.
–The European Commission expects Romania’s economy will see higher growth than expected and raised its real GDP growth forecast from 2.5% to 3.2% for 2023.
-Romania’s current account balance posted a deficit of EUR5 billion in the first quarter of 2023, down 7.8% y-o-y, the National Bank of Romania (BNR) data showed.
|EUR 4.9610||GBP 5.6971|
|USD 4.5816||CHF 4.0942|
|BGN 2.5365||MDL 0.2561|
(Source: National Bank of Romania BNR)
BNR INTEREST RATES
|11.2% (April 2023) BNR Target 2022: 2.50% (variation band: ± 1pp)|
BUCHAREST STOCK EXCHANGE (BVB) INDICES
|BET 0.73%, BET-TR 0.72%, BET-FI 0.75%, BET-NG -0.01%, BET-XT 0.69%,|
BETXT-TR 0.69%, BET-BK 0.79%, RO-TX 0.74%, BETAeRO 0.02%
CAPITAL MARKET COMMENTARY
|Bucharest stocks traded in the red on Wednesday as rest of European markets closed mixed amid the release of the latest economic reports and new financial statements published by companies from the area.|