The 3 months ROBOR index , according to which the cost of consumer credits in lei with variable interest rate is calculated, went up to 4.70% per year on Thursday, from 4.68% per year the previous day, according to data released by the National Bank of Romania (BNR). A higher index level was recorded in 2013 – 4.74% per year. At the beginning of 2020, ROBOR index for 3 months was 3.19% per year, and at the beginning of 2021 it was 1.98%. The 6 months index, used to calculate interest rates for mortgages in lei with variable interest rate went up to 4.80% per year, from 4.78% on Wednesday, while ROBOR for 12 months climbed to 4.86% per year, from 4.83% per year. The BNR Administration Board decided two days before to increase the monetary policy interest rate to 3%per year, from 2.5% per year, as of April 6, 2022, and maintain strict control of cash flow in the monetary market. The reference index for consumer credits is 1.86% per year, being calculated as average of daily interest rates of interbank transactions in quarter 4, 2021, on the rise compared to the one published 3 months before of 1.17%. In May 2019, government order 19/2019 came into force to modify the way in which interest rates are calculated for credits with variable interest rates in lei. The order established the reference index for consumer credits calculated on a quarterly basis based on interbanking transactions.
Romania has reached a purchasing power per capita of EUR 11,105, approximately 45% below the European average – a figure that places the country in 31st place in the European top, according to the "NIQ Purchasing Power Europe 2025" study. Compared to 2024, Romania moved up one position in the NIQ ranking. Comparatively, at a […]
Ionuț Costea, former head of EximBank, and Sebastian Vlădescu, former finance minister, were released on November 5 following an extraordinary prescription procedure, according to a statement from Romania's High Court of Cassation and Justice (ICCJ). The two had been sentenced in 2023 to six and seven years in prison, respectively, for taking a EUR 5.5 […]
Prime minister Ilie Bolojan, who also serves as president of the Liberal Party (PNL), stated on November 4 that, at the meeting of the party's National Political Bureau the same day, support was renewed for resolving the issue related to special (magistrates') pensions this month, but also for the reform in public administration, according to
Knauf Insulation Romania, the local subsidiary of a division of the German group Knauf, has officially inaugurated its new glass mineral wool factory in Târnăveni, Mureș County, after an investment of EUR 140 million, for which the company also received EUR 18 million in state aid. "Our factory in Târnăveni, equipped with state-of-the-art technology, has […]
Corden BioChem, an expert in industrial biotechnology, could resume production at the bioethanol factory it took over from Swiss Clariant in southern Romania (or "Lesser Wallachia" as indicated by the company) at Podari, after the Competition Council authorised the takeover of the steam and electricity supplier. The company announced on its website that the Podari […]
Romania’s general government budget deficit can drop below 6.5% of GDP next year, possibly approaching 6% of GDP, to further drop below 5% of GDP if the tax evasion and tax avoidance are addressed, the head of the Fiscal Council, Daniel Daianu, said, speaking in a conference organised by Curs de Guvernare, as reported by […]
