COMMENT: Romania’s achievements and challenges. Quo vadis?

Alexandru M. Tanase in London November 19, 2019

30 years after Romania started its post-socialist transition, there are many urgent tasks ahead. Most likely another three decades will be needed to rebalance the macroeconomic disequilibria and put things right.

Romania’s construction market maintains solid growth in Q3

Iulian Ernst in Bucharest November 18, 2019

The growth in the volume of construction works in Romania accelerated to 35.4% y/y in Q3, as the sector turns into a significant growth driver.

Romania’s industrial production sees sharpest correction in past decade

bne IntelliNews November 14, 2019

Industrial output contracted by 3.6% y/y in Q3, which was the sharpest decline seen since the 2008-2009 recession.

Romania’s sluggish Q3 exports raise questions about still buoyant import-driven consumption

Iulian Ernst in Bucharest November 12, 2019

Romania’s exports of goods increased by only 0.5% y/y to €17.0bn in Q3, which was the weakest performance in the past seven years.

Romania’s former PM Dancila to face President Iohannis in second round of presidential elections

bne IntelliNews November 11, 2019

Klaus Iohannis seen heading for victory in the runoff in two weeks time, which will reinforce the new government headed by the centre-right PNL.

30 YEARS OF TRANSITION: CEE makes enormous progress but held back by governance issues

Clare Nuttall in Glasgow November 9, 2019

If half of the governance gap between Central Europe and the G7 countries was closed, income convergence would be brought forward by almost a generation, says EBRD chief economist Beata Javorcik in an interview with bne IntelliNews.

30 YEARS OF TRANSITION: The East-West convergence in numbers

Clare Nuttall in Glasgow November 9, 2019

30 years after the fall of the Berlin Wall the new EU members haven’t yet caught up with Western Europe — but they are drawing level with the Southern European states that were battered by the international economic crisis.

Romanian presidential election becomes a race for second place

Iulian Ernst in Bucharest November 8, 2019

Sunday’s vote will determine whether incumbent Klaus Iohannis faces recently dismissed prime minister Viorica Dancila or Dan Barna who represents the “new” centre-right against Iohannis’ old guard in the second round.

30 YEARS OF TRANSITION: A profound crisis of trust in democracy

Denitsa Koseva in Sofia November 7, 2019

Report from the Open Society Foundations reveals a “robust spirit of dissent, and a readiness to challenge those in power” as shown by mass anti-corruption protests in the Czech Republic, Romania and Slovakia.

30 YEARS OF TRANSITION: Central European automakers prepare for an electric future

Clare Nuttall in Glasgow November 6, 2019

Since the first years of the transition period, Central Europe started to emerge as a major manufacturing destination for Europe’s automotive industry. Now the industry is adapting to a new generation of technologies.

EBRD: Pace of emerging Europe economic growth slows as global outlook weakens

EBRD in London November 6, 2019

The pace of growth in the EBRD’s emerging economies is slowing on the back of a weaker global economic outlook, and pressure from slower growth in the Eurozone and China, US/Chinese trade tensions and a contraction in world automobile production, acc

IIB successfully executes largest local currency bond placement in Romania

bne IntelliNews November 5, 2019

Orders for the International Investment Bank's latest issue amounted to more than RON500mn and the final book showed a very diversified investor base represented by 18 institutional investors.

Romanian parliament endorses Ludovic Orban's government

Iulian Ernst in Bucharest November 5, 2019

PNL leader to head a heterogeneous coalition of MPs, and will face problems gathering the necessary support for each and every step he wants to take, particularly if it involves a vote in parliament.

Central Europe shrugs off Western Europe’s slowdown

Ben Aris in Berlin November 4, 2019

Western Europe is rapidly sliding into recession, but after a five-year-long boom, Central Europe is holding out.

30 YEARS OF TRANSITION: “I was 30” commercial stirs controversy in Romania

Iulian Ernst in Bucharest November 4, 2019

A former dedicated communist who is now a member of the #Rezist! anti-corruption protest movement speaks about freedom in an advert for online retailer eMag that has raised uncomfortable questions about Romanian society.

Erdogan makes an enemy of VW’s trade unions

bne IntelliNews November 1, 2019

Labour representatives “repudiate approval” of automaker’s plan to build plant in Turkey while violence in Syria continues.

Romania postpones 5G licenses auction until next year

Iulian Ernst in Bucharest November 1, 2019

Auctions held up as Bucharest needs time to implement an agreement with the US that is likely to see companies using Chinese Huawei’s technology blocked from bidding.

Romania’s largest airline Blue Air eyes Bucharest IPO after streamlining operations

Iulian Ernst in Bucharest October 31, 2019

Blue Air will return to its “low-cost roots” says CEO Oana Petrescu. The company broke even in FY2019 and plans to issue bonds to finance future growth ahead of a potential listing.

Slowdown on the cards for Central Europe as economic sentiment plunges

bne IntelliNews October 30, 2019

The European Commission’s Economic Sentiment Indicators (ESIs) turned south across Central Europe in October, suggesting the economies of the region will slow down from here as a miasma descends.

Political standoff in Bucharest threatens to hold up formation of new European Commission

bne IntelliNews October 30, 2019

Brussels “wants to move on” says a European Commission spokesperson as Romania’s president and outgoing prime minister squabble over who gets to appoint the country’s representative in the new Commission.