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Economic

Gov't sets legal framework in place for start of infrastructure projects, pending EC approval of relevant programs

Tuesday, September 13, 2022

 Under an emergency ordinance adopted on last Thursday, the government set the legal framework in place for the start of projects in the fields of transport, waste management, improvement of the response system, and hospital and outpatient infrastructure, until the formal approval by the European Commission of the Transport, Sustainable Development, and Health Programs.According to a government release, one third of the funds allocated under the ...

Tourism : Tourists’ accommodation increased by 2.8% în July

Tuesday, September 13, 2022

- Compared to July 2021, in July 2022, the arrivals in the establishments of tourists’ reception with functions of tourists’ accommodation increased by 2.8%, while the overnight stays decreased by 1.7%. - Compared to July 2021, in July 2022 customs registered an increase in the arrivals1) of foreign visitors of 49.6% and an increase of 27.6% in the departures1) abroad of the Romanian ...

Nearly 20 hotel to open by the end of 2023

Tuesday, September 13, 2022

  Close to 20 large hotel projects are due for delivery in Bucharest and in the country by the end of 2023, according to the Romanian Hotel Market report by Crosspoint Real Estate.   Among the expected openings in Bucharest are the Grand Hotel du Boulevard, the first unit under the Swissôtel brand in the city’s Expozi?iei area, the ...

Cars: New car registrations go up by 5.08% in Romania, after eight months

Tuesday, September 13, 2022

The number of new car registrations increased in Romania by 5.08%, in the first eight months of this year, compared to the same period in 2021, according to the data published by the Directorate for Driving Licenses and Vehicle Registration (DRPCIV), quoted by the Romanian Automobile Manufacturers Association (ACAROM).Thus, in the analyzed period, 83,349 new cars were registered, compared to the 79,320 units recorded a year ago, the same ...

Car production in Romania up by 15.5% in the first eight months

Tuesday, September 13, 2022

 The production of cars increased in Romania by 15.5%, in the first eight months of the current year, compared to the same period in 2021, reveals the data of the Association of Automobile Manufacturers in Romania (ACAROM), published on Friday.Thus, out of the volume of 330,393 units produced in the country, 199,503 represent the Dacia brand, and 130,890 units are Ford.ACAROM has recently announced, citing the statistics of the Directorate ...

Real Estate: Colliers: Half of the apartments in Bucharest were bought with credit in the first semester

Tuesday, September 13, 2022

  Transactions of apartments and houses began to decline starting from the spring of this year, as a result of high energy costs, rising construction materials and fuel prices, in addition to the rising costs associated with mortgages, Colliers consultants point out.   Specifically, the total stock of home loans has reduced its annual growth rate to 10% at the end of July, after annual growth at the end of 2021 ...

Demand for modern office spaces reached pre-pandemic levels as of mid-2022

Tuesday, September 13, 2022

Annualized demand for office spaces has officially returned to pre-pandemic intensity, returning to 2019 levels, but many challenges exist on the horizon, according to Colliers experts.   More precisely, demand for modern office spaces continued its recovery, the second quarter of 2022 also being the best quarter since Q4 2019. New demand reached 73,500 square meters in the first half of 2022, up by 94% compared to last ...

Telecom. IT: ANCOM sweetens terms for 5G auction

Tuesday, September 13, 2022

Following consultations on the specifications for the 5G tender, the market regulator ANCOM reduced the annual tariff for the use of the radio spectrum by 30%, eliminated bank guarantee letters and reduced the number of mandatorily covered localities.   Separately, it maintained the starting price at EUR 693 mln while extending the terms of the licenses to 25 ...

Agriculture: Jan - May livestock exports drop 16.8 pct

Tuesday, September 6, 2022

Romania's livestock exports in the first five months of 2022 dropped 16.8 percent compared to the same period of the year before, to 182.8 million euros, shows data centralized by the National Institute of Statistics (INS).Livestock imports were also 17.7 percent down, to 66.6 million euros.For this category of products, Romania was running a trade surplus of 116.2 million euros between January and May 2022.Romania's meat and meat product ...

Financial support of over 26 million lei for animal breeders

Tuesday, September 6, 2022

Animal breeders receive financial support of 26.047 million lei for the services provided in June and in the second quarter of 2022, the Payments and Intervention Agency for Agriculture (APIA) informs on Thursday."The Ministry of Agriculture and Rural Development, through the Payments and Intervention Agency for Agriculture, makes the payment of the state aid in the animal breeding sector, requested through the payment requests related to the services ...

Tourism : Three-fold YoY increase in H1 number of foreign tourists to Romania

Tuesday, September 6, 2022

 The number of foreign tourists to Romania in H1 is threefold the figure registered in the same period last year, Minister of Entrepreneurship and Tourism Daniel Cadariu told a press conference on Tuesday, citing a report by the National Institute of Statistics (INS)."In 2022 compared to 2021, we have a 37 percent overall increase in the number of tourists from 3.2 million to 4.4 million. In 2021 Romanian tourists were three million, and in the first ...

Arrivals in accommodation units, up 2.8pct in July

Tuesday, September 6, 2022

- Compared to July 2021, in July 2022, the arrivals in the establishments of tourists’ reception with functions of tourists’ accommodation increased by 2.8%, while the overnight stays decreased by 1.7%. - Compared to July 2021, in July 2022 customs registered an increase in the arrivals1) of foreign visitors of 49.6% and an increase of 27.6% in the departures1) abroad of the Romanian ...

Infrastructure: Works start on first 21 km of Ploiesti-Buzau highway

Tuesday, September 6, 2022

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Sorin Grindeanu, the minister of transports, announced that another important step was made in building Moldova Highways (A7), the fact that CNAIR gave the association Impresa Pizzarotti & CspA- Pizzarotti SA- Retter Project Management the location of lot 1 (Dumbrava-Mizil) of Ploiesti-Buzau highway.   He added that works were financed through the National Plan of Recovery and Resilience (PNRR) and must be completed in ...

Since beginning of year, contracts are signed on all types of transport worth EUR 4.7 bln

Tuesday, September 6, 2022

Minister Sorin Grindeanu declared, on Tuesday, in a press conference organized in the Black Sea Olimp resort, that from the beginning of the year and until August 1, financing contracts for all types of transport were signed at the Ministry of Transport in the amount of approximately 4.7 billion euros."To have an order of magnitude, the best year in the past was about two or three years ago and then, throughout the year, contracts were signed for around 2 billion ...

National strategy on intelligent transport systems for 2022 - 2030, approved by gov't

Tuesday, September 6, 2022

   The national strategy on the intelligent transport systems for 2022 - 2030 was approved in Wednesday's government sitting, the Executive informs in a press release.According to the government, the piece of legislation includes the National Strategy on Intelligent Transport Systems for the period 2022 - 2030 and the Action Plan for its implementation, "documents that define the framework and priorities for the development of intelligent ...

Transport Minister signs funding contract for Tulcea "Delta Danube" Airport modernisation

Tuesday, September 6, 2022

 Transport Minister Sorin Grindeanu signed, on Thursday, a financing contract for the modernisation of the "Delta Danube" Airport in Tulcea, worth 180 million lei."Today we signed a financing contract for the modernisation of the Danube Delta Airport in Tulcea. The airport will have 180 million lei available for the development of a modern passenger terminal and access to facilities for aircraft according to European standards. The funds will be used, ...

Real estate : Romanians bought apartments of 75 million euros from Sobha Dubai developer in first 7 months of 2022

Tuesday, September 6, 2022

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The real estate market in Dubai is in full expansion, recording an increase by 61.7% of the number of real estate transactions in 2022 against 2021, according to data of Sobha Dubai real estate developer which show that Romanians bought apartments of 75 million euros from that developer, in the first 7 months.   “In the present inflation and geopolitical context, more and more investors focus on the ...

Colliers: The local land market continues to see significant interest

Tuesday, September 6, 2022

The land market remained active in the first half of 2022, maintaining trends seen in the past couple of years which marked the best levels since 2007. Residential developers remain quite actively oriented towards areas just outside of Bucharest, where the land offering is plentiful, prices are smaller and permits are obtained without challenges, reveals Colliers in its market report on the evolution of the real estate market in the first semester of ...

IMPACT Developer & Contractor has increased its sales with 45% in the first semester of 2022

Tuesday, September 6, 2022

IMPACT Developer & Contractor, the first real estate developer listed on the Bucharest Stock Exchange (stock symbol IMP), closes the first semester of 2022 with a 45% sales increase and a 64% gross profit increase compared to the same period of last year.   Thus, the developer obtained 90.3 million lei by selling completed units and a 35.23 million lei gross profit, with a 39% gross ...

Trade: Jan - May beverage exports advance 52.3 pct

Tuesday, August 30, 2022

Romania's beverage exports in the first five months of this year amounted to 108.4 million euros, up by 52.3 percent compared to the year-ago period, shows data centralized by the National Institute of Statistics (INS).Beverage imports over the interval January - May totaled 251.7 million euros (plus 45 percent), resulting in a trade deficit of 143.3 million euros for this category of products.Beverage exports were the highest in May - 28.2 million euros, whereas the ...

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