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Financial & Banking

Bloomberg: Romanian Central Banker Sees No Immediate Need to Tighten Policy

Monday, October 17, 2016

Too early to worry about overheating, deputy governor says Voinea sees Romania as underrated given its fundamentals There’s no need at the moment for tighter monetary policy in Romania because the economy is experiencing the “best macroeconomic picture” since the collapse of communism and growth hasn’t become unsustainable, central bank ...

BNR official:there are no reasons to increase the interest rate

Monday, October 17, 2016


Daniel Daianu, member in the Board of the National Bank of Romania (BNR) stated on Friday that he sees no reasons to increase the interest rate, even if the country is close to getting out of the negative inflation, Reuters says. ‘We have inflationist pressure following the increase of salaries in the public and private sector; these pressures are partially compensated by the gains in productivity. That is why, we appreciate that it is not the ...

BNR: Balance of payments and external debt - August 2016

Monday, October 17, 2016


According to BNR – the central bank, in January - August 2016, the balance-of-payments current account posted a deficit of EUR 2,110 million, compared with EUR 939 million in January - August 2015; the goods balance and primary income balance recorded higher deficits, by EUR 1,333 million and EUR 80 million respectively, while the surplus on secondary income stood EUR 268 million lower and that on services balance widened by EUR 510 ...

Jan-Aug FDI into Romania up 17.4% y/y

Monday, October 17, 2016

Foreign direct investment (FDI) into Romania increased 17.4% on the year to 2.741 billion euro ($3.02 billion) in the first eight months of 2016, the central bank, BNR, said on Friday, quoted by seenews.com. Out of the total, equity investment amounted to 2.379 billion euro and inter-company lending recorded a net value of 362 million euro, the BNR said in a statement. Last year, FDI into Romania increased 25.3%, ...

Almost 352 million lei collected in nine months of 2016 from the large taxpayers

Monday, October 17, 2016

 Tax collection from the large taxpayers grew in the nine months of 2016 by almost 352 million lei, to 63.21 billion lei, on Friday announced the National Tax Administration Agency (ANAF) in a press ...

Net assets of local open-end investment funds increased 1.6 percent in September

Monday, October 17, 2016

The net assets of local open-end investment funds increased 1.6 percent in September to almost 22 bln lei, the Fund Managers Association (AAF) announced in a release on ...

Romania's deflation deepens to 0.6% y/y in September

Monday, October 17, 2016


Romania's annual consumer price deflation accelerated to 0.6% in September from 0.2% in August, data from the statistics office, INS, showed on Tuesday. Food prices were up 0.46% on the year in September, while non-food prices fell 1.06%, INS said in a statement. Prices in the services sector went down 1.17%. On a month-to-month basis, the consumer price index (CPI) edged down 0.11% in September, with food prices down 0.58%, non-food charges ...

Subscribed share capital of Fondul Proprietatea is cut by over 605.3 million lei

Monday, October 17, 2016

 The subscribed share capital of Fondul Proprietatea (FP, Property Fund) is cut by over 605.3 million lei, to 8.56 billion lei, pursuant to the cancellation of 712,171,156 own shares acquired by Fondul Proprietatea S.A. during the sixth buy-back programme, says an information issued on the Bucharest Stock Exchange (BVB) ...

Financial expert: Deutsche Bank collapse ‘would probably trigger new global financial crisis’

Monday, October 17, 2016

Deutsche Bank is in crisis mode and its collapse could signal the beginning of a whole new set of economic woes for Germany, the EU and even the entire global financial system, expert Michael Schröder told EurActiv Germany. But he insists that state aid is not the ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 30 September 2016

Monday, October 10, 2016

The National Bank of Romania Board members present at the meeting: Mugur Is?rescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the National Bank of Romania; Liviu Voinea, Board member and Deputy Governor of the National Bank of Romania; Marin Dinu, Board member; Daniel D?ianu, Board member; Gheorghe Gherghina, Board member; Ágnes Nagy, Board member; and ...

MFP distributes to the banks, since Monday the ceilings for Prima Casa: Alpha Bank and Intesa Sanpaolo are no longer on the list

Monday, October 10, 2016


The supplementary ceiling allocated to the programme Prima Casa worth 500 million lei, will be distributed starting with Monday, to the commercial banks according to a press release of MFP sent on Friday. ‘The ministry of public finances (MFP) approved the allocation to the banks of 500 million lei, the total sum with which the guarantee ceiling for the programme Prima Casa was supplemented. The banks which received ceilings are : Banca ...

Reuters: Romania set to approve CHF loans conversion at historical rates-MPs

Monday, October 10, 2016

 Romania's budget, finance and legal committees are likely to overwhelmingly approve on Monday a bill to help Swiss franc borrowers convert their mortgage loans in local leu currency at historical rates, deputies said on Friday. Over the past weeks there have been debates on converting loans including one ...

Service Sector Reforms Could Boost EU Productivity by Average of 5%, Says World Bank

Monday, October 10, 2016

 While EU growth is projected to remain low, with limited scope for quick policy fixes, a new World Bank report says reforming the service sector could significantly boost incomes and convergence, a statement sent to ACTMedia reads. The World Bank EU Regular Economic Report (EU RER) projects reforms could increase productivity by an average of 5 percent, providing more and better jobs, stimulating investments, and deepening ...

Romania plans 3.5 bln lei (782 mln euro) domestic debt issuance in Oct

Monday, October 10, 2016

Romania's finance ministry said on Thursday it plans to auction 3.5 billion lei ($874 million/782 million euro) in government securities in October, as well as to sell an additional 405 million lei in non-competitive offers, seenews.com reads. The finance ministry plans to hold one tender for 800 million lei in one-year T-bills and six auctions for T-bonds worth a combined 2.7 billion lei, with outstanding maturities ranging between 2.3 and 14.9 ...

Romania sells below target 110.5 mln lei (24.6 mln euro) in 2031 T-bonds

Monday, October 10, 2016

Romania sold on Thursday 110.5 million lei ($27.6 million/24.6 million euro) of Treasury bonds maturing on September 24, 2031, below its target of 200 million lei, central bank data showed quoted by seenews.com. The average accepted yield on the bonds was 3.63%. Demand exceeded supply more than three times. The issue will be reopened on Friday when the finance ministry hopes to raise an additional 30 million lei in a ...

ING sees 'significant risk' of Romania's 2017 budget deficit exceeding 3%/GDP

Monday, October 10, 2016

Romania's budget gap could widen beyond 3% of GDP next year if the parliament goes on with adopting populist legislation, while end-2016 deflation is now seen at 0.4%, compared to a previous 0.8%, ING Bank Romania said on Thursday, seenews.com informs. "With two months to go until the general elections, several populist initiatives are in various stages of the parliamentary approval process, most of which will have a permanent impact on state budget ...

BVB introduces a new set of rules for the BET and BET-TR indices

Monday, October 10, 2016


The Bucharest Stock Exchange (BVB) introduces a new set of rules for the BET and BET-TR indices, so that they reflect the performance of the most traded companies listed on BVB, as well as a watchlist of eligible companies. The Stock Exchange ...

Stock transactions go up 3.11 percent in first 9 months on Bucharest Stock Exchange main segment

Monday, October 10, 2016

The value of stock transactions conducted on the main segment of the Bucharest Stock Exchange (BVB) went up 3.11 percent in the first nine months of this year compared with the same period of 2015, to about 6.33 billion lei, reveal the data with the capital market operator. In September this year, the total value of transactions exceeded 1.23 billion lei, an ...

ARB head: More severe filters for banks’ loans in Romania according to new regulation

Monday, October 10, 2016

The new regulation regarding the loans for individuals adopted by the National Bank of Romania (BNR) introduces more severe regulations and filters for banks regarding the loans, says the executive president of Romanian Banks Association (ARB), Florin Danescu, business-review.eu reads. The regulation was published on the Official Gazette and needs to be applied by banks until the end of this year. „The regulation is ...

IMF raises Romania GDP growth forecast to 5% for 2016, 3.8% for 2017

Monday, October 10, 2016


The International Monetary Fund (IMF) said on Tuesday it expects Romania's real GDP growth to reach 5% in 2016 before it decelerates to 3.8% in 2017, making the country Europe's top performer, seenews.com reports. In its previous forecast in April, the IMF said it expects Romania's real GDP growth to reach 4.2% in 2016 and 3.6% in 2017. Romania's consumer prices are seen falling 1.5%  in 2016 before rising 1.7% in ...

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