Romania’s GDP growth accelerates to 5.9% y/y in Q2

bne IntelliNews August 17, 2017

The government’s 5.2% target for this year’s GDP growth looks realistic and it might actually be exceeded but at the cost of the accumulation of twin deficits.

Migrant crisis seen raising risk of slavery across Central, Southeast Europe

bne IntelliNews August 10, 2017

Romania and Bulgaria are among five EU countries with the greatest risk of modern slavery, as the arrival of vulnerable migrant populations pushes up risk in agriculture, construction and services.

Brno top destination for tech startups in CEE/CIS

bne IntelliNews August 9, 2017

Affordability makes the Czech Republic’s second city the highest ranked location in the CEE/CIS region on Nestpick’s latest Startup Cities Index.

Wild capitalism threatens the untamed rivers of Southeast Europe

Clare Nuttall in Bucharest August 7, 2017

Southeast Europe is seeing an explosion in hydropower investment, but inadequate regulation and oversight of the sector are raising concerns about the environmental impact and whether these investments are sustainable.

Lucifer heatwave strains infrastructure, emergency services in Southeast Europe

bne IntelliNews August 7, 2017

Lucifer heatwave that brought scorching temperatures across Southeast Europe highlighted infrastructure shortcomings, while drought takes its toll on agriculture along the Adriatic coast.

Turnover at Romanian seaside resorts doubles in five years

bne IntelliNews August 2, 2017

Romanians flock to Black Sea resorts but foreigners make up just 6% of total visitors as Romania remains last placed in the EU in terms of tourism revenues.

Romanian unemployment rate down to 5.3% m/m in June

bne IntelliNews August 1, 2017

Romania’s seasonally-adjusted ILO unemployment rate decreased by 0.6pp y/y and by 0.1pp on the month to 5.3% in June, the INS statistics office reported on July 31.

CEE/CIS economic hubs face $1.3 trillion infrastructure gap

Clare Nuttall in Bucharest August 1, 2017

The region's steepest gap - of $727bn - is in Russia where inadequate infrastructure spending in recent decades has hindered economic growth.

Globalworth lists €550mn corporate bonds on Bucharest exchange

Carmen Simion in Bucharest July 31, 2017

Real estate investor's bond issue, aimed at refinancing part of its maturing debt and preparing for further expansion, is the largest of its type on the Bucharest bourse.

Russian deputy PM threatens "stinging countermeasures" after Romania closes airspace

Carmen Simion in Bucharest July 29, 2017

Dmitry Rogozin was travelling to Moldova, where he planned to attend celebration of Russian peacekeeping forces in Transnistria, on a commercial flight after Chisinau denied access to his military jet.

Romania to buy €3.4bn Patriot system as it ramps up military spending

Iulian Ernst in Bucharest July 27, 2017

Romania’s Defence Minister Adrian Tutuianu confirms Bucharest will buy Patriot missile defence system and outlines defence spending plans.

Romanian banks expand loan portfolio by 4.2% y/y in June

bne IntelliNews July 26, 2017

Increase in lending driven by both consumer and corporate segments, while the main engine remains the retail mortgage segment.

Deposit formation in Romanian banks eases amid slower income gains

bne IntelliNews July 26, 2017

Romania's banking system is still a net borrower vis a vis its non-government customers but is shifting toward a net lender position for the first time since the international economic crisis.

Romania tops instability ranking with average minister lasting just 1.2 years

Carmen Simion in Bucharest July 25, 2017

Romania has had three prime ministers since the start of 2017, and around 150 ministers since 1990.

Romanians dream of migrating to Transylvanian IT hub Cluj

bne IntelliNews July 25, 2017

More Romanians considering a move to Cluj Napoca than either Bucharest or abroad, in contrast with emigration trend seen in recent years, World Bank study finds.

New Romanian government puts investors on fiscal rollercoaster

Clare Nuttall in Bucharest July 25, 2017

Investors in Romania typically expect a bumpy ride when it comes to the tax regime, with frequently changing rules often motivated by political considerations, but recently it's become really turbulent even by Romanian standards