TODAY’S NEWS
ECONOMY & COMPANIES
-Romania’s general consolidated budget posted a deficit of RON22.75 billion in the first quarter of 2022, or 1.42% of gross domestic product (GDP), according to the Finance Ministry.
-Private lending in Romania increased by 10.2% in nominal terms in March 2023 y-o-y to RON370.4 billion, as local currency lending grew by 2.7% and foreign currency lending expressed in lei by 30.2% , central bank data showed on Thursday (April 28), the National Bank of Romania (BNR) said in its monthly monetary statistics report.
–OMV Petrom, the largest oil and gas producer in Southeast Europe, ended the first quarter of 2023 with RON9.5 billion sales, while net profit decreased by 15% to RON1.48 billion amid falling oil prices.
-The Bucharest Court of Appeal rejected, on Thursday (April 27), as unfounded, the request of Euroins Romania to suspend the Decision by which the Financial Supervisory Authority (ASF) ordered the withdrawal of the operating authorization of the insurer, ASF informed.
-Transgaz, the technical operator of the national gas transmission system, said its investment programme for the development of the National Transport System (NTS) in the next decade is estimated at over 3.2 billion euros.
–Romanian managers expect a sharp increase in prices in the retail trade in the next three months, but also a moderate increase of activity in the manufacturing industry and services, according to a survey by the National Institute of Statistics (INS).
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9353 | GBP 5.5968 |
| USD 4.4915 | CHF 4.0133 |
| BGN 2.5234 | MDL 0.2480 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 14.53% (March 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.41%, BET-TR -0.41%, BET-FI -0.30%, BET-NG -0.42%, BET-XT –0.40%, BETXT-TR –0.40%, BET-BK -0.30%, RO-TX 0.02%, BETAeRO 0.52% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks extended their losing steak on Friday bucking the trend across Europe where markets head into the weekend higher as investors digested the latest economic data and corporate earnings reports. |
(Graph source: BVB)
