EXCHANGE RATES
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BNR INTEREST RATES
| Deposit facility: | 5.75% |
| Policy rate: | 6.75% |
| Lending facility: | 7.75% |
INFLATION RATE
| 15.32% (Oct. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.62%, BET-TR -0.62%, BET-FI -0.06%, BET-NG -0.48%, BET-XT -0.52%, BETXT-TR -0.52%, BET-BK -0.16%, RO-TX -0.95%, BETAeRO 0.17% |
BVB Commentary
| Bucharest stock indices closed in the red with Romgaz leading the blue-chip decliners. The stateowned natural gas producer and the main supplier in Romania plunged 2.41% to close at 40.5000 points. |
POLITICS
16:16 European Commissioner for Home Affairs Ylva Johansson announced on Thursday via Twitter that Croatia will join the Schengen Area at the start of 2023, while bids from Bulgaria and Romania to join have been blocked.
Today marks a good day for citizens of Croatia -welcome to Schengen.
— Ylva Johansson (@YlvaJohansson) December 8, 2022
To citizens of Bulgaria and Romania I say this -you deserve to be fully part of Schengen -I will support every step to achieve this in my mandate.
Statement with Minister @Vit_Rakusan https://t.co/jsva62jpz0
12:21 Germany supports bids by Bulgaria, Croatia and Romania to join the Schengen area, German Interior Minister Nancy Faeser said in Brussels on Thursday, adding that she did not share Austria’s opposition to enlargement of the visa-free travel zone, Reuters reported.
09:32 The government is set to approve on Thursday (Dec. 8) the draft laws on the state budget and the state social insurance budget for 2023.
09:19 Romanian farmers and Romanian agriculture will benefit from 15.83 billion EUR through the National Strategic Plan 2023-2027, which was approved by the European Commission, the Minister of Agriculture, Petre Daea, told a press conference on Wednesday (Dec. 7).
ECONOMY
12:23 Government debt stood at 646.073 billion RON in September, compared to 628.289 billion RON in August and 577.521 billion RON at the end of last year, the Ministry of Finance data showed.
10:11 Romania had the one of the highest annual economic growth rates in the European Union, of 4.7%, in the third quarter of 2022, being outpaced only by Ireland (10.6%), Croatia (5.5%), Cyprus (5.4%), Malta (5.2%) and Portugal (4.9%), according to Eurostat data.
10:06 The total value of bilateral exchanges between Romania and the United Arab Emirates in January-September 2022 was 375 million dollars, more than the total volume recorded in 2021, according to the Chamber of Commerce and Industry of the Municipality of Bucharest (CCIB).
MARKET & COMPANIES
15:56 French multinational hospitality company Accor is expanding its portfolio in Romania by signing a new franchise contract for a hotel which will operate under the Mercure brand in the city of Bacau.
14:19 Real estate investors and developers active in Romania plan to expand their local portfolios over the next three years despite inflation, increasing financing costs, the geopolitical situation and also the increasing construction costs, according to the first edition of the Cushman & Wakefield Echinox’s “Real Estate Investors Sentiment Barometer”.
11:01 The Romanian state-owned railway company CFR SA sealed 45 contracts totally worth RON700 million, for works on routes Apahida-Baia Mare, Razboieni-Episcopia Bihor and Arad-Oradea, allowing for maximum train speed of 120 Km/h, Ziarul Financiar reported.
SOCIETY
14:34 The majority of Romanians (more than 70%) agree that their country has met all the criteria and will eventually join the Schengen area, according to an opinion survey at national level, carried out by the INSCOP Research, commissioned by the Laboratory for the the Analysis of Information War and Strategic Communication (LARICS), within the “Ion I. C. Bratianu” Institute of Political Sciences and International Affairs (ISPRI) of the Romanian Academy, Agerpres reported.
MORE NEWS FROM ROMANIA
09:35 Constanta, Iasi, Brasov and Bucharest boast the largest investments underway in accommodation units, according to an analysis by local business daily Ziarul Financiar based on IBC Focus platform data.
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