In January - May 2024, the balance-of-payments current account posted a deficit of EUR 9,175 million, compared with EUR 6,879 million in January - May 2023, the National Bank of Romania (BNR) informs in a press release.The breakdown shows that the deficit on trade in goods widened by EUR 1,428 million, the surplus on services fell by EUR 710 million, the primary income deficit increased by EUR 714 million, while the secondary income surplus grew by EUR 556 million.In January - May 2024, total external debt increased by EUR 5,670 million to EUR 175,753 million, of which: long-term external debt at end-May 2024 ran at EUR 130,997 million (74.5 percent of total external debt), up 7.6 percent against end-2023; short-term external debt at end-May 2024 amounted to EUR 44,756 million (25.5 percent of total external debt), down 7.4 percent from end-2023.Long-term external debt service ratio stood at 13.8 percent in May 2024 against 16.7 percent in 2023. At end-May 2024, goods and services import cover ran at 6.2 months, as compared to 5.6 months at end-2023.At end-May 2024, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 113.7 percent, as against 96.3 percent at end-2023.
The corporate branch in Romania of PKO Bank Polski, the leader of the Polish banking system, will begin its operational activity on the local market in 2025, according to Ziarul Financiar. The Romanian daily announced in October 2023 that PKO Bank, the largest bank in Poland, with assets equivalent to 70%...
The Romanian Ministry of Energy announced that it notified the Foreign Direct Investment Review Commission (CEISD) regarding the transaction through which Hungary's state-owned energy group MVM intends to acquire the gas and electricity supply division of E.ON Energie Romania,...
At the monetary policy meeting of January 15, Romania’s central bank (BNR) maintained the monetary policy interest rate at 6.5%, which was in line with expectations. Amid persistent inflation risks and with no budget plan drafted by the government, the monetary authority thus prioritized a cautious stance over the need to encourage economic growth. “We […]
Ford Transit & Tourneo Courier, Ford Puma, and the new Dacia Duster led Romanian car production to a record volume of over 560,000 cars, according to calculations by Ziarul Financiar based on information from the car market and Ford Otosan's stock exchange report. The volume thus brings a 10% increase...
Romania's industrial output in the 12 months to November 2024 contracted by 2% y/y, according to data published by the statistics office INS. The contraction was slightly softer (-1.6% y/y) in the core manufacturing sector, with the segment of utilities (-4.4% y/y) dragging down the overall performance. Most likely, the industrial output in Romania ended […]
A film festival presenting films awarded by ecumenical juries of international festivals and an exhibition centering on the book as an art object are among the options on the Bucharest agenda. In Bucharest: Filmikon January 18 – January 24 The second edition of the event screens a selection of films awarded over the years by […]
