ECONOMY
-Romania’s government will revise the 2023 economic forecast downwards but stick with an over 2% growth, more optimistic than that of international institutions like the World Bank or the International Monetary Fund, Ziarul Financiar reported citing sources from institutions involved in drafting the forecasts.
-The share of Bucharest in the national GDP formation decreased in 2022 to 29.8%, the same percentage as in 2010, compared to 37% registered in 2019, amid local administrative gridlock and urban development uncertainty, according to a study by the Association of Real Estate Investors in Romania (AREI).
REAL ESTATE
-Despite many challenges faced by the retail market the industry shows a great evolution. Sales and traffic figures registered in the first half of 2023 are higher than the similar period of 2019, considered the best year for retail in Romania, according to the Turnover Retail 2023 market study powered by CBRE, the global and national leader in commercial real estate services and investments.
-Bucharest’s share of new homes delivered shrinks to 54.7% from 66.5% in 2022, according to representatives of BREC – Bucharest Real-Estate Club – an association of the largest real estate developers on the local market.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9720 | GBP 5.7064 |
| USD 4.7177 | CHF 5.2467 |
| BGN 2.5421 | MDL 0.2595 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.15%, BET-TR -0.14%, BET-FI -0.90%, BET-NG -0.17%, BET-XT -0.14%, BETXT-TR –0.14%, BET-BK -0.35%, RO-TX -0.40%, BETAeRO 0.17% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the red on Thursday mirroring the trend across Europe as the crisis in the Middle East continued to rattle the markets around the world, seemingly raising concerns about the economic stability. |
