Romanian authorities are reportedly investigating a potential case of Russian sabotage involving the deliberate contamination of Azerbaijani crude oil intended for OMV Petrom’s Petrobrazi refinery, G4media.ro...
Covid-19 was a huge economic shock, but it was countered with an impressive response of support measures, and the Romanian economy has shown resilience and the recovery is ongoing, show the results of the Investment Survey of the European Investment Bank (EIB) 2021.The results of the EIB Investment Survey 2021 (EIBIS) were presented on Wednesday in the online conference "Support measures and the new normal: how well positioned are Romanian firms?", organized by the National Bank of Romania (BNR) and the European Investment Bank (EIB).According to a statement from the banks, government support measures have been crucial to supporting investment activity. EIB results show that 65 pct of Romanian firms received financial support to counter the effects of the pandemic (EU average: 56 pct).Support under the EU's Recovery and Resilience Facility is a unique opportunity to stimulate investment. The Romanian economy has shown resistance, and the recovery is now in full swing, the firm political response being essential to support the investment activity.Debora Revoltella, Director of the EIB's Economy Department, presented the new results of the Investment Survey, which, together with the EIB Investment Report, provides an overview of the cyclical and structural dynamics of investments and their financing in Europe.For his part, the Governor of the National Bank of Romania, Mugur Isarescu, noted that the EIB's investment survey shows that Romanian companies have become more optimistic in 2021, many of them will increase investments rather than reduce them.Regarding the short-term changes generated by the pandemic, digitization has prevailed, with almost half of the companies (45 pct) making investments in this regard. In addition, COVID-19 will have an undeniable long-term impact on the needs and investment priorities, 49 pct of the companies wanting to continue this process. Uncertainty about the future remains the most invoked long-term obstacle to investment (80 pct), followed by the limited availability of qualified personnel (73 pct).According to the source, the lack of access to finance is also worrying.The survey conducted in Romania presents information obtained from interviews with representatives of a number of 480 Romanian companies, carried out between March and July 2021.
Romanian authorities are reportedly investigating a potential case of Russian sabotage involving the deliberate contamination of Azerbaijani crude oil intended for OMV Petrom’s Petrobrazi refinery, G4media.ro...
Romania’s minister of environment Diana Buzoianu appointed two controversial members to the board of directors of Romsilva, the state forestry management company, on August 7, despite public concerns over their integrity,
Romania's banking sector has recorded the highest profitability in the European Union, despite maintaining one of the lowest loan-to-deposit ratios in the bloc, Ziarul Financiar reported, citing a report by the National Bank of Romania (BNR) based on European Banking Authority (EBA) data. According...
Non-EU e-commerce platforms that sell directly to consumers in Romania may generate tax losses of about RON 10.86 billion (some EUR 2.12 billion) per year by 2027 if their expansion continues at current rates, according to an impact analysis published by the Romanian Association of Online Stores (ARMO) and carried out by independent analyst Iancu […]
Nofar of Israel, which already operates the largest photovoltaic park in Romania, may receive a loan of EUR 68 million from the European Bank for Reconstruction and Development (EBRD) for three large photovoltaic parks that it is developing in the south of the country. The EBRD’s project is in the exploratory stage. The total capacity […]
Three major Romanian power producers burning fossil fuels, namely OMV Petrom, Romgaz, and CE Oltenia, are reportedly asking the Ministry of Energy to reimburse them for the value of the CO2 certificates purchased for the power produced and sold at a capped price (RON 450 or RON 400 per MWh, depending on the period), in […]