The crisis to sweep through Romania's economyPublish date: 14-11-2008
Uncertainty reigns in the local business environment due to the international financial crisis. While some of the major players say they are still waiting for positive signs from the market before finalizing their budgets for 2009, others, operating in very significant fields, are preparing for recession, making plans for 2009 and to maintain forecasted results.
Some companies are already announcing drops in sales, while others are only saying that the evolution or regression will depend strictly on the economy's development.
The energy sector, though theoretically little affected by the crisis, is the first to admit that 2009 will be a year marked by restructuring programs, when revenues will slide due to a drop in electricity and gas consumption, with companies in the fields considering layoffs.
The car industry is the second-largest field which is forecasting that 2009 will be a difficult year. Porsche, one of the leaders among local distributors, has already announced a 10 percent drop in sales. Dacia, the largest local car maker, has not yet made public forecasts for 2009, but has cut production and is sending people on forced leaves of absence, while revising 2008 sales estimates downward.
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- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
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- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
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- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
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- Millennium Bank grants First House loans in lei