POLITICS
-Romania’s Minister of Energy, Virgil Popescu, announced on Monday that during his working visit to the USA this week he will address the following topics: The development of the civilian nuclear program and the strengthening of the strategic partnership in the field of energy.
-Romanian Senate Vice-President Robert Cazanciuc and Germany’s Ambassador in Bucharest Peer Gebauer had a meeting on Monday during which they discussed “in earnest the need to close the door called CVM and to open the one expected and deserved by Romanians: Schengen”
ECONOMY
-Romania’s three-month interbank offered rate ROBOR, which is used for pricing floating rate consumer loans in RON, rose to 7.56% on Tuesday from 7.51% on Monday, the National Bank of Romania data showed.
-Financial analysts part of CFA Romania association improve economic growth forecast to 3.6% for 2022, but expect the Romanian leu to decline to an average exchange rate of 5.1121 units/EUR in the next 12 months, while the estimated rate of inflation will reach an average value of 11%, a new all-time high since the launch of the monthly poll CFA has conducted for over ten years.
-National Bank of Romania Board member Cristian Popa in an interview with Profit.ro on Monday said the central bank still needs to come up with more interest rate hikes amid high inflation.
COMPANIES & MARKET
-The European Bank for Reconstruction and Development (EBRD) is providing EUR12.5 million in financing to Romania’s pharmacy chain Dona Group to support the company’s development plans.
-More than 3,500 companies went into insolvency in first six months of 2022 official data showed.
