Romania's | News

Patria Bank (stock symbol: PBK) has informed investors in a stock market report on March 18 that Romania's National Bank approved the appointment of Grigore-Valentin Vancea to the position of Chief Executive Officer (CEO) and member of the Executive Committee of Patria Bank.

Romania's current account deficit stood at EUR1.35 billion in January 2024, almost double the EUR760 million level reported in January 2023, central bank data showed on Friday (March 15, 2024).

Romania's annual inflation grew at a slower pace in February 2024, by 7.2% compared to February 2023, data from the country's statistics board INS showed on Wednesday (March 13).

Romania's central bank predicts a more pronounced acceleration of the country's economic growth in 2024 and 2025 than in previous forecasts, amid a slowdown in inflation and the recovery of external demand, expecting household consumption to become again the main GDP growth driver in 2024.

Romania's economy may accelerate in 2024 up to nearly 2.8%, driven by household expenditures and a gradual rebound in exports, while investment growth will remain solid, in line with an analysis by OTP Bank.

Romania's economy increased at a 2% annualized pace in 2023 in real terms (in unadjusted data), which is half the 4.1% growth rate reported in 2022, and way below the increase of 5.7% reported in 2021, in line with data released by the country's statistics board INS on Wednesday (February 14).

Romania's annual inflation resumed its upward trend, increasing by 7.4% in January 2024 compared to January 2023, data from the country's statistics board INS showed on Wednesday (February 14).

Romania's central bank has decided at its Board meeting on Tuesday (February 13, 2023) to keep its key interest rate unchanged at 7% a year, being the bank's ninth consecutive rate freeze.

Romania's financial regulator ASF has authorized the members of the Board of Governors of the Bucharest Stock Exchange (BVB.RO, the operator of Romania's capital market, for a four-year mandate, effective February 13, 2024.

Romania's mergers and acquisitions (M&A) market decreased slightly by volume in 2023 compared to 2022, but maintained its value, being estimated at EUR6.5-7.2 billion, according to an analysis conducted by Deloitte Romania.

Romania's energy regulator ANRE confirmed in a press statement on Friday (Feb 9) that it had fined four companies operating in the local energy sector a total RON537 million.

Fueled by access to digitalization and increased income of the young population and digital natives, Romania's e-commerce market is expected to maintain its upward trend in 2024, according to the eCommerce Insights 2024 report conducted by MerchantPro, the local SaaS solutions platform for e-commerce.

Romania's media retail market is expected to exceed EUR10 million in 2024, which would translate into an increase of over 30% compared to the previous year, as per an analysis by Footprints AI, a Romanian technology company that develops and markets an advanced media retail platform.

Romania's IT industry shows moderate optimism for 2024 considering that 2023 ended below initial expectations, as per data from the 2024 Sentiment Survey conducted by the Romanian Employers Association in the Software Industry (ANIS).

Romania's current account balance posted a deficit of EUR20.2 billion in January-November 2023, lower than the EUR24.3 billion level reported in the same period of 2022, central bank data showed on Friday (January 12, 2023).

The annual inflation rate posted a faster-than-expected decrease in the first two months of Q4/2023, falling to 6.72% in November, from 8.83% in September, amid the continued slowdown in the growth rate of food and energy prices, as well as following the decline in fuel prices, under the impact of lower crude oil prices, as per the minutes of the monetary policy meeting held by Romania's central bank on Friday (January 12, 2024).

Romania's annual inflation kept its downward trend in December 2023, ending the year at 6.6%, compared to 6.7% in November 2023 and 8.1% in October 2023.

Romania's Competition Council said it was analyzing the transaction through which Intesa Sanpaolo intends to acquire First Bank Romania from US-held private investment firm J.C. Flowers, as announced by the competition authority.

​The combined installed power of photovoltaic panels owned by prosumers was 1,300 MW at the end of October 2023 and, according to Romania's National Energy Regulatory Authority (ANRE), it is expected to reach 1,500 MW by the end of 2023.

ROCA Agri RDF, the agricultural holding company launched by ROCA Investments, announces that Romania's central bank has authorized the functioning of AGRO IFN, a Non-Banking Financial Institution (NBFI) in its portfolio, which is intended to cater to the financing needs of the agricultural sector.