According to the Central Bank (BNR) data, at end-May 2024, broad money (M3) amounted to RON 690,193.4 million, up 0.2 percent (0.3 percent in real terms) month on month. In year-on-year comparison, broad money rose by 10.5 percent (5.1 percent in real terms). At end-May 2024, loans to non-government sector granted by credit institutions increased 0.5 percent (0.6 percent in real terms) from April 2024 to RON 393,510.4 million. RON-denominated loans, representing 68.8 percent of total volume of loans to non-government sector, grew by 0.6 percent, whilst foreign currency-denominated loans, holding 31.2 percent of total loans to non-government sector, rose by 0.2 percent when expressed in RON (similar evolution when expressed in EUR). In year-on-year comparison, loans to non-government sector advanced 5.7 percent (0.5 percent in real terms), on the back of the 7.6 percent increase in RON-denominated loans (2.4 percent in real terms) and the 1.6 percent rise in foreign currency-denominated loans expressed in RON (1.4 percent when expressed in EUR). At end-May 2024, credit to general government granted by credit institutions decreased by 4.9 percent from April 2024, to RON 214,666.6 million. In year-on-year comparison, this indicator grew by 16.4 percent (10.8 percent in real terms). Deposits of non-government resident customers rose by 0.5 percent month on month to RON 592,575.8 million, while the annual growth rate was 11.0 percent (5.6 percent in real terms). RON-denominated deposits of residents, representing 70.7 percent of deposits of non government customers, picked up by 0.7 percent to RON 418,806.0 million month on month. In year-on-year comparison, they advanced by 15.2 percent (9.6 percent in real terms). RON-denominated household deposits decreased by 0.1 percent to RON 230,987.3 million month on month and rose by 21.3 percent (15.4 percent in real terms) year on year. RON-denominated deposits of other sectors (non-financial corporations and non-monetary financial institutions) advanced 1.7 percent (to RON 187,818.7 million) month on month and rose by 8.5 percent (3.2 percent in real terms) year on year. Foreign currency-denominated deposits of residents, representing 29.3 percent of the total volume of deposits of non-government customers, increased by 0.05 percent against April 2024 to RON 173,769.8 million when expressed in domestic currency (when expressed in EUR, these deposits rose by 0.03 percent to EUR 34,916.7 million). Compared to May 2023, this indicator grew by 2.0 percent when expressed in RON (1.9 percent when expressed in EUR). Foreign currency-denominated deposits of households went down 0.2 percent from April 2024 to RON 120,352.7 million when expressed in RON (similar evolution when expressed in EUR). In year-on-year comparison, the indicator decreased by 0.3 percent when expressed in domestic currency (-0.5 percent when expressed in EUR). Foreign currency-denominated deposits of other sectors advanced by 0.7 percent against April 2024 to RON 53,417.2 million when expressed in RON (when expressed in EUR, these deposits increased by 0.6 percent to EUR 10,733.4 million). Compared to May 2023, the indicator rose by 7.8 percent when expressed in RON (7.7 percent when expressed in EUR).
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
