POLITICS
-President Klaus Iohannis told a press conference on Tuesday that the government has no intention to implement an “austerity plan” in response to the expected dire economic situation in the coming quarters.
-Seven months after taking office, Romanian government ministers were validated in office by premier Nicolae Ciuca.
-The Ministry of Finance has put on public debate on its website the draft law for amending the Fiscal Code, which is expected be adopted by the Executive next week. According to the document, several taxes and duties increase, among which the VAT for carbonated drinks, HoReCa.
ECONOMY
-In its meeting of 6 July 2022, the Board of the National Bank of Romania decided to increase the monetary policy rate to 4.75 percent per annum, from 3.75 percent per annum, as of 7 July 2022.
-On an annual basis, retail turnover, the main barometer for private consumption, increased by 5.7% in the first 5 months of 2022, due to increases registered by the retail of automotive fuel in specialised stores (+10.1%), by the sale of non-food products (+6.9%) and by the sale of food, beverages and tobacco (+1.9%), National Institute of Statistics data showed.
-Romania reported 52,946 real estate deals last month 11,660 fewer than in May 2022, National Agency for Cadastre and Land Registration (ANCPI) data showed.
COMPANIES & MARKET
-Romania is facing high inflation and 56% of companies are worried about their capacity to satisfy their employees’ demands for high salaries, according to the European Payment Report 2022, published by Intrum . 360 respondents from Romania participated in the study.The sample includes experts from the financial area and level C executives.
-The “Made in Romania” Nominations Committee has selected its 50 semi-finalists out of the 350 companies nominated on the platform www.investingromania.com. The Made in Romania Program has continued to grow since its launch in 2017, confirming once again with this edition its success among Romania’s business community.
-The European Commission said it has closed its in-depth investigation into public support given by Romania to petrochemical company Oltchim.
