This is the new Romania Press Review weekly bulletin. You can browse the week's headlines below and download the full bulletin here.
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This Week’s Summary
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October 5-9, 2020
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- FinMin claims economic support package amounts to over 7% of GDP in 2020...
- ... and announces new facility for companies owing money to budget
- Govt. ponders prolonging loan repayment moratorium
- WB: EU grant funds will be critical for Romania’s growth recovery
- Retail sales pause post-lockdown recovery in August
- RO households’ consumer expenditures up a mere 1.1% in Q2
- New bank loans in March-August down 15% year-on-year
- Banks keep widening interest rate spread in August
- Insurance market, up 3.4% in H1
- Economic growth in Q3 likely in the lower single-digit area
- Budget revenues remain strong in September
- Drought destroys a quarter of Romania’s crops this year
- Germany acknowledged as biggest foreign investor in Romania
- Second Romanian contractor to work for Patriot missile systems
- Nuke company Nuclearelectrica to invest EUR 470 mln by 2025
- RO nuke research company RATEN develops EU-funded testing centre
- US fund JC Flowers close to taking over another small RO bank...
- … after it bought Bank Leumi Romania at 50% discount
- RO Govt. to amend Offshore Law in line with investors’ expectations, after elections
- OMV Petrom begins production-sharing negotiations with Georgia
- OMV Petrom’s operations keep dwindling in Q3, except for power segment
- Romanian Post kiks-off investment plan with EUR 43 mln loan from EximBank
- Close to 100,000 jobs could disappear in Romania’s HoReCa sector due to restrictions
- Romanian cinema chain Happy Cinema keeps expanding
- Refurbished phones marketplace grows faster than expected
- Brazilian investors takes over Romanian cyber security firm
- Czech billionaire to finalize takeover of CME media group
- Deloitte Partner believes RO should join the Banking Union even before the Euro
- Transgaz sells 25% of strategic pipeline in Moldova to EBRD
- EC allows RO Govt. to guarantee EUR 19.3 mln loan for state airline Tarom
- French group Accor opens its first hotel in Timisoara
- Study: Iasi emerges as important IT hub in Romania
- RO electro-IT retailer Altex gets EBRD financing for logistics centre’s expansion
- Shares of RO agribusiness company Holde Agri up 26% after listing
- Romania increases gas export capacity to Hungary
- Dacia carmaker to unveil its first electric model on October 15
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- Supreme defence council approves implementation of 2020-2024 Defence Strategy
- Romania’s defense and economy ministries visit Washington
- RO Social Democrats hurry to replace head of telecom regulator before elections
- President says “elections must be held” despite complicated sanitary situation
- Romania’s opposition will not defer general elections yet
- Former Romanian Socialist and Liberal PMs merge their parties
- RO Social Democrats promise higher wages and pensions ahead of general elections
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- Romania’s daily Covid-19 count exceeds 3,000
- Romania toughens restrictions on foreign travelers
- Restaurants, cinemas and theaters close again in Bucharest
- Local authorities introduce new restrictions
- Report: Work is no guarantee for well-being in Romania
- Romania scores slightly better in 2020 Social Progress Index
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- October 9 - Romania, US to sign agreements for nuclear, military cooperation; including for USD 8 bln project aimed at expanding Romania’s Cernavoda nuclear power plant. Romania’s ministries of defense, Nicolae Ciucă, and economy, Virgil Popescu, visiting Washington, will conclude "two essential agreements for the future of the Strategic Partnership between Romania and the US", the US Ambassador to Bucharest, Adrian Zuckerman, announced on October 8 in his speech at the Bucharest Forum 2020.
- October 12 - Consumer Price Inflation, Sep 2020 The annual consumer price inflation in Romania eased slightly to 2.7% in August from 2.8% in July after the prices decreased on a seasonal trend by 0.05% in the month. Romania's central bank (BNR) revised marginally downward the forecast for headline inflation for the end of this year to 2.7% from 2.8% previously in its latest Quarterly Inflation Outlook.
- October 12 - Primary energy resources balance, Jan-Aug 2020
- October 14 - Industrial Production Index, Aug 2020 Romania's seasonal and workday adjusted industrial production index advanced by another 3.3% m/m in July after 16% monthly gains posted in May and June each, according to the statistics office INS. Still, it lags 12% behind the level reached in February before the crisis.
- October 16 - Construction Works Index, Aug 2020 Construction, one of two economic sectors in Romania that made a positive contribution to GDP growth in Q2, maintained a robust, double-digit annual growth rate in July of 12.2%, according to the statistics office (INS). The growth rate in January-July was 18.2% y/y.
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Financial Markets — Latest Closing Figures
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Exchange Rates
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| 1 EUR |
RON 4.8741 |
+0.02% |
| 1 USD |
RON 4.1468 |
+0.07% |
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Main Indexes
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| BET |
8,899 |
+0.27% |
| BET-TR |
14,968 |
+0.27% |
| BET-BT |
41,642 |
-0.30% |
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