BNR Exchange Rates
16.03.2010- 1 EUR
4.0908 RON - 1 USD 2.9895 RON
- 1 CHF 2.8176 RON
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The latest Economic news Last update: 16.03.2010
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15 Mar 2010 Romania's current account deficit dropped 73.2% in January. Sums sent by overseas Romanians went up Romania's current account of the payments balance dropped by 73.2% in January against the same time last year, amounting to 123 billion euros, according to Romania's National Bank (BNR) data. The current account deficit was 459 in January 2009… read more -
15 Mar 2010 Fitch Ratings awarded BB+ to Romania's Eurobonds issue Fitch Ratings awarded BB+ to the Eurobonds issue that expires every five years, worth of one billion euros. It was launched on Thursday evening, March 11, by the Romanian state, a financial evaluation agency report shows. This rating is similar to that Romania received for long term foreign currency debt… read more
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15 Mar 2010 Trade deficit drops 38.4 pct in January The FOB-CIF trade deficit stood at 1.783 billion lei in January this year (426.8 million euros), less by about 1.104 billion lei (265.8 million euros) compared with January 2009, according to data centralized by the National Institute of Statistics (INS). The trade deficit dropped 38.38 percent in euros and 38.24 percent in lei, compared with January 2009… read more
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15 Mar 2010 IMF chief expected in Bucharest on March 30 International Monetary Fund managing director Dominique Strauss-Kahn is expected on a short visit to Bucharest on March 30; this is the second visit to Romania by a head of the international financial institution, after Michel Camdessus in 1994. The date could be changed at the last minute because of the IMF leader's busy agenda… read more
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15 Mar 2010 Average two-month inflation rate at 0.9 pct The average inflation rate over the first two months of the current year stood at 0.9 percent, compared to 1.1 percent in the same period of 2009, shows data centralized by the National Statistics Institute (INS)… read more
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11 Mar 2010 S&P Raises Romania Outlook Standard & Poor's Ratings Services raised its outlook on Romania to stable, citing its view of the Eastern European nation's sustained budgetary reform program. The ratings agency also cited its expectation Romania would continue to comply with a International Monetary Fund/European Union… read more
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11 Mar 2010 Annual inflation rates below the analysts' expectations The annual rate of inflation in Romania fall in February to 4.49% from 5.20% recorded i January, after consumption prices went up 0.20% against the previous month, according to the Romanian National Statistics Agency (INS). Economists estimated the annual inflation to 4.6% in February, based on a 0.3% increase in consumerist prices… read more
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10 Mar 2010 February unemployment rate climbs to 8.3% Unemployment rate jumped 0.2% in February to 8.3%, pushing the number of jobless to 762,000, data from the Labor Agency (ANOFM) show.Unemployment rate increased by 0.2% in February to 8.3% from 8.1% a month earlier.The total number of jobless rose to 762,375 of which 622,765 from the private sector, and the rest from the public sector… read more
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09 Mar 2010 BERD : the stimuli announced by the Romanian government were rather « imaginary » The stimuli package of 13 billion euro announced in February 2009 by the Romanian government for the counterattacking of the effects of the economic crisis was " more imaginary rather than real" the European Bank for Reconstruction and Development says (BERD). As a result of the crisis, many governments announced fiscal programmes… read more
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05 Mar 2010 Romania's GDP shrinks 6.5% in 4Q Romania's gross domestic product for the fourth quarter 2009 contracted 6.5% from the same period of 2008, according to the revised data provided by the National Institute of Statistics.The country's GDP for the last quarter of 2009 is estimated at 152.295 billion lei (€35.7 billion)… read more
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05 Mar 2010 Debts to Romania: 1.2 billion dollars Other states debts to Romania, based on the contracts concluded prior to 1989 with 13 countries, exceed 1.2 billion dollars, to which almost two billion transferable roubles are added, owned by Cuba, but no progress was made with the authorities in Havana in the past twenty years, Bursa daily informs… read more
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05 Mar 2010 Gazprom accepted on Romanian OPCOM market The UK Gazprom Marketing & Trading Ltd subsidiary, owned by the Russian energy giant Gazprom, was granted the right to trade electric power on the bilateral agreement market for the power exchange of Romanian power market operator (OPCOM), daily Financiarul informs… read more
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03 Mar 2010 Vacancies' rate drops 0.50 pct The vacant jobs rate continued to decrease reaching a 0.50 percent level in the last quarter of 2009, a National Institute of Statistics release sent to Agerpres informs.The vacant jobs rate represents the percentage ratio between the number of job vacancies and the total number of jobs… read more
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03 Mar 2010 Bureaucracy and government economic policies - main issues to be under accusation by Swiss investors The investments of the Swiss companies to Romania are estimated at the beginning of 2010 at about 1.12 billion euro, between ranks 6 and 8 in the top of foreign investors in our country, according to a report lauched on Monday, 1March by the Swiss Embassy to Bucharest. The document mentions a series of barriers to investments and makes a series of recommendations… read more
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03 Mar 2010 How much money does the State make out of concessions and farming lease The income of ADS (the agency for state domains) diminished last year by 24% at 78.6 million lei, as compared to the previous year when the institution had incomes of 103.5 million lei, according to the data offered by ADS. ADS gets monely from such activities as concessions and farming lease, company selling and sanitary-veterinary surgeries offices… read more
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02 Mar 2010 IMF sets first-quarter deficit target at 8.25 billion lei The International Monetary Fund (IMF) has already agreed on two quarterly budget gap targets for Romania, in a broad effort to contain the 2010 deficit within the 5.9% target range, from 7.2% in 2009. The global lender set a national debt target for the first quarter at 8.25 billion lei (around €2 billion), and 15.54 billion lei (€3.8 billion) for the first half… read more
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02 Mar 2010 Survey: Executives see more job cuts ahead Romanian employers anticipate a relative stability in manufacturing activity over the next three months, a decline in construction and retailing industry, and a modest slowdown in services, with the majority of them expecting a reduction in their payrolls, a survey carried by the National Institute of Statistics found… read more
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01 Mar 2010 Eurostat: December 2009 compared with November 2009 - Industrial new orders up by 0.8% in euro area According to Eurostat data, in December 2009 compared with November 2009, the euro area1 (EA16) industrial new orders index2 rose by 0.8%, after +2.7% in November3. In the EU271 new orders increased by 0.6% in December 2009, after +2.4% in November3. Excluding ships, railway & aerospace equipment4… read more
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01 Mar 2010 February 2010: Moderate Optimism in Industry; Slower Seasonal Decline in Construction The outcome of the business survey conducted by the National Bank of Romania in February shows a slight improvement in industry, while in construction the dampening impact of bad weather is seen diminishing against the previous month. Industrial company managers expectations on production suggest a possible… read more
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01 Mar 2010 Romania's public debt at more than 35 bln euros Romania's public debt totaled 148.05 billion lei (more than 35 billion euros) at the end of 2009, accounting for 29.29 percent of Gross Domestic Product (GDP), show figures released by the Public Finances Ministry on Thursday.At end-Dec. 2008, the Romanian public debt amounted to 109.75 billion lei, accounting for 21.78 percent of GDP… read more
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26 Feb 2010 The government and the IMF projected the most drastic adjustment of the budgetary deficit for Q3 The reduction of the budgetary deficit towards the target of 31.9 billion lei ( 5.9of the GDP) agreed with IMF for this year will be quantified in the Q3, when the fiscal imbalance must drop by 4.8 billion lei against the level of the same period of last year. The adjustments of the other three quarters are most restricted, by comparing the period of July-September… read more
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26 Feb 2010 In January, Romania spent 127 million lei more than they collected In January, Romania spent from the budget 127 million lei than they collected. The budgetary deficit in January is 0.03% of the GDP ( 157 million lei) the state secretary in the ministry of finances, Gheorghe Gherghina said. According to him, the financial balance of January is a good one as during this month the profit tax and the impact of expenditure on salaries was low… read more
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26 Feb 2010 A CE delegation comes to talk about reactor 3 and 4 in March A delegation of the EC will come at the end of March to Romania, to discuss the future reactors 3 and 4 our country wants to build in Cernavoda, the general manager of Nuclearelectrica, Pompiliu Budulan. "The European Commission required technical details about the future reactors we want to build in Cernavoda… read more
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26 Feb 2010 Gazprom cooperation may be extended for 10 natural gas deposits in Romania Talks between Romania and Russia on the development of some natural gas deposits have been extended to 10 deposits identified by Romgaz, Trade and Business Environment Minister Adriean Videanu told a press conference on Friday. 'As regards the gas storage in Romania, the talk was extended to include the Roman Margineni depot… read more
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26 Feb 2010 ForMin Baconschi: Romania to endorse 30 pct cuts in greenhouse gas emissions Foreign Minister Teodor Baconschi said on Thursday that Romania endorses the ambitious EU objective to get the greenhouse gas emissions cut by 30 percent, if the other developed countries, the United States included, commit themselves to comparable efforts… read more
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24 Feb 2010 Environment Ministry to invest over 50 million euros in afforestation in 2010 The Ministry of the Environment and Forestry will invest over 50 million euros in afforestation in 2010 as against an unimportant sum of money in 2009, Minister of the Environment Laszlo Borbely told the meeting of the Committee on the Environment, Agriculture and Local and Regional Affairs of the Parliamentary Assembly of the Council of Europe… read more
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23 Feb 2010 IMF Completes Second and Third Review Under Stand-By Arrangement with Romania and Approves US$3.32 Billion Disbursement The Executive Board of the International Monetary Fund (IMF) completed the second and third reviews of Romania's economic performance under a program supported by a 24-month Stand-By Arrangement (SBA), the organisation said in his press release… read more
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23 Feb 2010 Perception regarding the evolution of the Romanian economy got worse The perception of financial experts regarding the evolution of Romanian economy for the next six months got worse in February, but this is second in Central and Eastern Europe (ECE) as regards the attractiveness for foreign investment, according to a survey of ZEW institute… read more
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19 Feb 2010 Deloitte expects a VAT increase at 22% Pieter Wessel, coordinating partner within the auditing company and consultancy Deloitte Romania, expects an increase of the VAT at 22% for the next period, while the representatives of the ministry of public finances say they do not know anything about a possible increase of the tax… read more
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19 Feb 2010 Economists decided : We have to go back to consumption to restart the economy Restarting the Romanian economy depends on the resumption of consumption, under the conditions where the share in forming the GDP is approximately of 70%. Exports help, but they can't relaunch an economy which is based on imports. « It is not real to say that exports will get us out of the crisis. We are not out of the crisis, but we have passed the maximum point… read more
Most Popular News
- IMF second and third installment to enter today the accounts of the National Romanian Bank
- BVB posts RON 8 million in profit, with business falling 40 pct
- Deloitte expects a VAT increase at 22%
- Meeting of PACE Committee on the Environment in Bucharest
- IMF Completes Second and Third Review Under Stand-By Arrangement with Romania and Approves US$3.32 Billion Disbursement
- PM Emil Boc in Budapest: Energy solidarity is indispensable
- US company to invest 30 million dollars in Romania
- Florian Libocor, BRD: Romania should go through with the IMF agreement
- FinMin: Budget collections in February amount to 98-99 percent compared to schedule
- Romania's GDP shrinks 6.5% in 4Q
