POLITICS
-The Romanian government will hold consultations with the business community and civil society to include their initiatives in the national process of accession to the Organization for Economic Co-operation and Development (OECD), Prime Minister Nicolae Ciuca announced on Monday.
-Former minister of transport Catalin Drula won the elections as chairman of the Save Romania union (USR), Romania’s main opposition party, with 71.3% of the 18,177 votes cast.
ECONOMY
– Romania’s trade balance posted a deficit of EUR12.7 billion in the first five months of this year, up by EUR3.89 billion compared with same period in 2021, data from the National Institute of Statistics INS showed Monday.
-Romania’s finance ministry raised RON546.5 million on Monday (July 11), above the planned level of RON400 million, selling bonds maturing in July 2027, at an annual average yield of 9.05%.
-Romania’s 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, surged to 6.87% y-o-y on Monday from 6.79% on Friday (July 8), National Bank of Romania data showed.
COMPANIES & MARKET
-Bucharest leads the way as the cheapest city in Europe to buy a home, with the average house price costing a budget-friendly £35,831, according to comparison website NerdWallet’s “European First-Buyer Report.”
-Three quarters of companies in Romania have adjusted or will adjust salaries with inflation or a percentage between inflation and the initially planned increase, while the rest decided to maintain the budget of salary increases set in 2021, as per the HR Barometer conducted in June by PwC Romania.
-The Romanian capital market has fully recovered from the decline caused by the war in Ukraine as the BET-TR index increases by almost 1 percent in the first 6 months, the Bucharest Stock Exchange said on Monday.
