POLITICS
-Romania’s defence minister Vasile Dincu, a member of the Social Democratic Party (PSD), said in a post on social media on Monday that he has submitted his resignation “due to the impossibility of collaboration with the President of Romania.”
-Prime Minister Nicolae Ciuca sent, on Monday, to the Presidential Administration the documents regarding the resignation of Vasile Dincu from the position of Minister of National Defense and by which he takes over the Defence portfolio, informed the spokesperson of the Government, Dan Carbunaru.
-Chamber of Deputies Speaker, Social Democrat leader Marcel Ciolacu said on Monday that a set of proposals regarding local taxes and fees will be tabled to the responsible minister for discussion, hinting that high-end homes might be taxed more, Agerpres reported.
ECONOMY
-Romania’s finance ministry on Monday (Oct 24) reopened a bond issue due in September 2032 and borrowed RON428.5 million from banks, at an annual average yield of 9.7%, Ziarul Financiar reported.
-Romania could end 2022 with a budget deficit of less than 6%, depending on the budget revision in November, Daniel Daianu, the president of the Fiscal Council, said in a video message at the third edition of the Banking Forum event, organized by Financial Intelligence.
-Romania is ranked among the top 20 most important world economic partners of Germany’s Bavaria, Destatis data showed. Trade between the two sides has gone up by 9% in the first eight months of 2022.
COMPANIES & MARKET
-Romanian freight haulers say they lose between 18% and 22% of their turnover due to blockages at the border with Hungary, because Romania is not in Schengen Area, Agerpres reported.
-Romania’s office market is going through a period of multiple challenges, reflecting economic uncertainty and inflationary pressures which discourage companies from expanding, according to JLL Romania.
SOCIAL
-Since the onset of the Russian-Ukrainian war eight months ago, 2.65 million Ukrainians moved across Romania and over 86,500 Ukrainians chose to settle down in Romania, a report by the Ministry of Foreign Affairs that covers this period reveals.
