POLITICS
-Romania’s Prime Minister Nicolae Ciuca will pay a working visit to the Hellenic Republic on Thursday and will have a one-on-one meeting with the Prime Minister of the Hellenic Republic, Kyriakos Mitsotakis, according to the Government Press Office.
-Adrian Chesnoiu will be replaced by Petre Daea (73) as minister of agriculture, Social Democrat president Marcel Ciolacu announced on July 6, after the meeting of the party’s National Political Council.
-The Social Democratic Party (PSD) ranks first on voting intentions with 35%, followed by the National Liberal Party (PNL), with 20% and by AUR with 12%, according to the latest Avangarde opinion poll.
ECONOMY
-The National Bank of Romania (BNR) expects the annual inflation rate to stick to an upward path until mid-Q3, but will visibly slow down BNR’s governor, Mugur Isarescu stated.
-Romanians’ real estate assets have continued to grow in 2020 and 2021 by RON360 billion, respectively 20.7% above the 2019 level, reaching a record high of almost RON2,095 billion at end-2021, BNR data showed.
-The Austrian think-tank wiiw (Vienna Institute for International Economic Studies) sees Romania’s economy increasing by 3.5% this year, as well as in 2023, followed by a stronger advance (4.5%) in 2024.
COMPANIES & MARKET
-Romania’s National Consumer Protection Authority (ANPC) – the only institution in Romania that deals with individual insolvencies – reports that applications for individual insolvencies in the first six months of 2022 are exceeding applications filed in the whole 2021.
-Slovakia, Hungary and Czech Republic are most exposed among Central and Eastern European (CEE) sovereigns to a sudden cessation of Russian gas supplies to EU countries, Fitch Ratings says. Poland, Lithuania and Romania appear least exposed. A sudden cessation is not Fitch’s base case, but is a risk.
-Bucharest-listed One United Properties, a developer of sustainable residential, office and mixed-use projects in Romania, will invest EUR70 million in Urban Regeneration of abandoned historical landmarks.
