TODAY’S NEWS
ECONOMY & COMPANIES
–The National Bank of Romania’s profit stood at RON1.08 billion in 2022, down 46.3% y-o-y.
–Eight in ten Romanians used or would use Buy Now Pay Later (BNPL) or similar payments solutions, according to Kearney. A percentage of 15-20% Romanians frequently utilize purchases in instalments either at point of sale in store or at check-out when purchasing online, or post-purchase.
–Romania’s general consolidated budget posted a deficit of RON37 billion in the first five months of 2023, or 2.3% of gross domestic product (GDP), the Ministry of Finance said.
–The local media media market kept growing last year, but at a slower pace, of just 9%, reaching a net value estimated at EUR657 million, the Media Fact Book annual report revealed.
–Eight out of ten companies in Romania expect a high or very high impact of national and European circular economy regulations, on a short and medium term, and 70% estimate that state subsidies are not sufficient, according to a new Deloitte report titled “Circular Economy. The perception and stage of implementation in Romania”.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9644 | GBP 5.7505 |
| USD 4.5478 | CHF 4.0727 |
| BGN 2.5383 | MDL 0.2483 |
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 2.32%, BET-TR 2.32%, BET-FI 0.55%, BET-NG 2.69%, BET-XT 2.10%, BETXT-TR 2.10%, BET-BK 1.61%, RO-TX 2.09%, BETAeRO 1.22% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks extended their gains on Thursday as rest of Europe closed mixed with investors digesting the latest economic prints. While Germany’s inflation accelerated in June, Spain’s inflation cooled. Meanwhile, consumer confidence in the euro area improved. Interest rate discussions also remained in focus. |
