Romania Market News – 28/09/23

TODAY’S NEWS

ECONOMY

-Financial analysts part of CFA Romania association see the Romanian currency falling to an average exchange rate of 5.0753 units/euro in the coming 12 months, while the average inflation rate is seen at 7.58%, up from 7.52% anticipated in July.

-The 2% tax charged on the banks’ turnover over a two-year period will bring 350 million RON to the budget, while the 0.5% additional tax on oil and natural gas companies will funnel another 600 million RON into the state coffers, Finance Minister Marcel Bolos said on Wednesday, Agerpres reported.

-The minimum statutory gross wage in Romania will increase by 10% under a bill to be endorsed by the Government on September 28, Prime Minister Marcel Ciolacu told Digi24.

COMPANIES

-The pursuit of profit remains a central priority for most businesses and investors in Central and Eastern European (CEE) countries, the survey “Unlocking private capital for social good in Central & Eastern Europe” conducted by the Social Impact Alliance for Central & Eastern Europe reveals.

-Romania’s OMV Petrom, the largest integrated energy company in Southeast Europe, has signed a contract for the purchase of natural gas with the Turkish Petroleum Pipeline Corporation (BOTAŞ). The contract was signed for a period of 18 months, starting October 2023 and allows for the supply of up to 4 million cubic meters per day.

-Almost five in ten 10 Romanian employees, which is 48%, prefer flexible working hours, and 43% want more vacation days, according to a survey carried out by global flexible workspace provider Mindspace.

TODAY’S MARKET

EXCHANGE RATES

(Source: National Bank of Romania BNR)

BUCHAREST STOCK EXCHANGE (BVB) INDICES

CAPITAL MARKET COMMENTARY