Romania Country Report - April, 2016

April 21, 2016

The report covers info as of April 20.
The datio in solutum bill is on the verge of being promulgated in a form harshly criticised by banks.

Key Points
• S&P affirms BBB- rating for Romania; risks tamed by low public, external debt
• Public debt to GDP ratio down 1.32p to 37.8% at end-Jan
• Romania’s C/A deficit widens 8 times y/y to 0.2% of GDP in Jan-Feb
• IMF raises Romania’s GDP growth forecast to 4.2% in 2016
• World Bank ups Romania’s 2016 growth projection to 4%, warns on risks of excessive deficit
• Romania revises upward 2015 GDP growth to 3.8%
• Industry grows by only 0.8% y/y in February; output in past 12 months increased by 2.2% y/y, decelerating from 2.8% y/y calculated at the end of 2015
• Retail sales growth accelerates to 21.8% y/y in February; services rendered to Romanian households 20% up y/y in February
• Construction works 8.7% up y/y in February
• CPI deflation deepens in March to minus 3% y/y
• Net wages in Romania up real 15.8% y/y in February
• ILO unemployment flat at 6.5% in February
• Revenues to budget 6% above target in Q1, VAT collections 10%-15% down y/y
• President Iohannis returns law on macroprudential supervisory body to lawmakers
• Central bank maintains monetary policy rate at 1.75%; hikes expected for next year
• Romanian banks could sell €3bn of NPLs this year, KPMG says
• Banks keep extending mortgage loans to households at fast pace in February
• New consumer loans to households 66% up y/y in Jan-Feb
• Exports return to high growth in February: 9.5% up y/y
• Annual FOB trade gap 70% up y/y to 3.9% of GDP at end-February


To Purchase This Report - Click Here

Related Reports

Iran Country Report Jul18 - July , 2018

Iran’s real GDP growth came in at 4.3% in 2017, according to the World Economic Outlook issued by the International Monetary Fund (IMF) on April 17. Nonetheless, this figure is a shortfall from the ... more

Ukraine Country Report Jul18 - July , 2018

Ukraine’s economy pick up a little in first quarter of this year, growing by 3.1% y/y, but while the situation is improved, partly thanks to strong metal exports, the economic growth is not ... more

Belarus Country Report Jul18 - July , 2018

The Belarusian economy was recovering nicely in the first quarter of this year, thanks to the revival in neighbouring Russia and more benign external conditions in general. Impressively Belarus' ... more

Dismiss