Romania

Romania sees EU's fastest hourly average labour cost rise in April

bne IntelliNews June 18, 2018

However, Romania's convergence with EU averages remains slow, and the sharp growth of the labour cost in Romania announced by Eurostat was offset by the highest inflation in Europe.

Romania’s construction works remain subdued in April

bne IntelliNews June 18, 2018

The volume of construction works in Romania contracted by 4.1% y/y in April after the average 2.2% y/y decline in Q1.

Romania’s central bank points to rising default risk among households

Iulian Ernst in Bucharest June 15, 2018

The volume of NPLs accumulated by households increased by 13% y/y as of end-March, becoming the main threat to Romania’s financial stability, a central bank report said.

Romania reports highest quarterly employment growth in the EU in first quarter

bne IntelliNews June 13, 2018

Eurostat figures confirm Romania is following the same path as its northern neighbours in CEE, whose labour markets have tightened dramatically.

Romania’s headline inflation hits 5.4% y/y in May

Iulian Ernst in Bucharest June 13, 2018

The surge in consumer prices fuels expectations of a more hawkish central bank stance in the coming months.

Croatia ranks first worldwide in terms of tourist spending to GDP ratio

Carmen Simion in Bucharest June 12, 2018

Tourism contributed 18.8% of Croatia's GDP in 2016 and that ratio is expected to soar this year after investments in new terminals at the country's main airports, found a report from consultancy network UHY.

Romania’s trade gap temporarily narrows in April

Iulian Ernst in Bucharest June 12, 2018

The long-term trend is towards wider trade deficits, and despite the narrowing in April on the back of a hike in exports, more is needed to return the trade gap to a more sustainable level.

BAT to invest €800mn in Romanian plant over five years

bne IntelliNews June 11, 2018

Romanian plant will become the sole European supplier of glo Neostiks, the flagship tobacco heating product developed by the tobacco giant to balance an expected fall in global cigarette consumption.

Romania’s ruling PSD stages 200,000 strong protest in Bucharest

Carmen Simion in Bucharest June 10, 2018

Show of strength by ruling party amid power struggle with President Klaus Iohannis over the future of Romania's anti-corruption directorate.

Political crisis deepens in Romania as president declines to sack anti-corruption chief

Iulian Ernst in Bucharest June 6, 2018

Klaus Iohannis has not yet complied with a Constitutional Court ruling that he must dismiss DNA head Laura Kovesi, fuelling his ongoing conflict with Romania's ruling coalition.

Romania’s forex reserves further ease in May despite low debt service

bne IntelliNews June 5, 2018

The development is negative in the context of Romania's rising imports and widening external deficits.

Eurasians come in from the (financial) cold

Clare Nuttall in Bucharest June 1, 2018

New data shows soaring numbers of adults with a bank account in several Eurasian nations but the percentage of the population with an account in the wider region varied hugely from 98% in Estonia and Slovenia to just 29% in Azerbaijan.

Domestic violence treaty rattles governments across Eastern Europe

Clare Nuttall in Bucharest with additional reporting from Denitsa Koseva in Sofia May 31, 2018

The Istanbul Convention has angered conservatives in numerous Central and East European countries, whose antipathy to “gender ideology” has led to high-level political battles as governments that have signed up to the convention attempt to ratify it.

Romanian court says president must dismiss anticorruption chief

Iulian Ernst in Bucharest May 30, 2018

Romania's ruling coalition finally succeeds in decapitating anticorruption body that has launched probes into dozens of top politicians and businesspeople.

CEE faces massive cuts in EU cohesion spending

Wojciech Kosc in Warsaw May 30, 2018

Warsaw says changes that will see Poland losing €19.5bn in EU funding in 2021-2027 are “unacceptable”, as Brussels shifts focus from GDP per capita to youth unemployment, climate and integration of migrants.

Romanian ruling coalition loses majority

Carmen Simion in Bucharest May 28, 2018

The ruling parties no longer have a majority in the lower house of parliament following a string of defections from the PSD to ex-PM Victor Ponta’s Pro Romania party.

None of the CEE countries planning to adopt the euro meet required criteria, EC says

Carmen Simion in Bucharest May 24, 2018

New member states from Southeast Europe are keen to become part of the EU's core by adopting the single currency, but latest convergence report shows they still have a way to go.

Romanian ruling coalition's rhetoric on 2nd pension pillar depresses already bearish market

Iulian Ernst in Bucharest May 22, 2018

Bucharest bourse's blue chip BET index plunged after ruling party leader Liviu Dragnea talked of suspending contributions to second pillar pension funds.

COMMENT: Remittances bring large benefits and dire consequences

Alex M. Tanase in London May 21, 2018

Countries like Romania and Moldova need to act now to entice back migrants and encourage the use of remittances for investment rather than consumption.

Plan to nationalise contributions to private pension funds revealed in Romania

bne IntelliNews May 21, 2018

Leaked document shows Bucharest is considering temporary ban on transfers to the second pillar of the pension system in H2 2018 in a bid to replenish government coffers.

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