Romania
Romania at high risk of downgrade to junk
Fitch and Moody’s scheduled reviews of Romania’s creditworthiness this autumn, shortly after MPs backed 40% pension hike that could push budget deficit up to 11% of GDP.
BUCHAREST BLOG: Investors dismayed by Romania's budget-busting 40% pensions hike
Incredulity greets MPs’ decision to vote through massive pension increase that would have put unbearable pressure on Romania’s finances even before the coronavirus pandemic.
Romanian stock exchange's next target is MSCI upgrade
The Bucharest Stock Exchange was upgraded by FTSE Russell to the emerging market category and is pursuing a similar upgrade from MSCI.
Romania officially becomes an emerging market
Bell rings on Bucharest Stock Exchange's first session after elevation to emerging market status, opening up the Romanian capital market to funds with billions of euros under management.
Romania’s construction sector shows strong growth in 7M20 despite pandemic
Construction, one of only two economic sectors in Romania that made a positive contribution to GDP growth in Q2, maintained a robust, double-digit annual growth rate in July.
Romania’s current account gap narrows as an upside effect of crisis
Romania’s current account balance narrowed to €4.86bn in January-July, down 19.5% y/y. The correction is related to the effects of the crisis: fewer holidays abroad and lower dividends.
Bucharest to open first new metro line since 1990
The first segment of the Romanian capital's fifth metro line is opening this week wth 10 stations, serving one of the city's biggest residential areas.
Romania’s car production rebounds post-lockdown
Car production was up 10% y/y in July-August, driven by the boost in production at Ford's Craiova factory.
Romania’s IT sector defies coronacrisis with robust growth in 2Q20
The value added generated by Romania’s IT and communications sector increased by 10.4% y/y in Q2, in contrast to the 10.5% GDP contraction.
Romania remains EU’s laggard by VAT gap
Romania posted the highest national relative VAT gap in the European Union in 2018, with 33.8% of its potential VAT revenues going missing.
Romania’s exports return to pre-crisis slow deceleration path
Romania's exports contracted by 5.1% y/y in July, to €5.55bn: the best performance since the coronavirus pandemic hit global trade in March. But the pre-crisis path was far from bullish.
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Romania’s statistics office confirms 10.5% GDP decline in Q2
The decline was softer than expected, while sentiment: short term indicators such as industrial production and retail sales point to a quick resumption of activity while health risks remain high.
The Balkans: External debts in uncertain times
Are countries in the Balkan region taking on more debt than they can afford?
Romania’s retail sales boast strongest growth in Europe again
Retail sales in Romania shot up by 4.8% y/y in July to nearly reach pre-crisis levels, and online sales surged by 48%.
Furore over Bucharest land plot gift for €2.9bn Romexpo development
MPs from main government and opposition parties backed proposal to hand over plot with an estimated value of almost €500mn for mixed use development around exhibition centre.
Bitcoin power consumption need not blow your brains—yet
Russia, Kazakhstan and Iran make top 10 in electricity consumption index for digital currency mining industry.
The robot will help you now
Robot grocery deliveries, checkout-free stores and facial recognition payments are some of the technologies coming out of CEE as retail goes contactless.