At a plenary sitting on Tuesday, the Chamber of Deputies passed Emergency Ordinance 5/2023, which establishes that the government may approve the establishment, on behalf of the state, of state-owned companies in Romania and abroad at the proposal of ministries.The ordinance is designed to regulate the establishment of the possibility for the government to approve the establishment, on behalf of the state, of state-owned companies in Romania and abroad, in compliance with the provisions of the state-aid legislation, at the proposal of the ministries with a jurisdiction over the main object of activity of the company or under whose authority the company operates.The ministries are also allowed to increase the share capital of the companies in which they are shareholders on behalf of the government, in compliance with the state aid legislation.According to the bill, the criteria taken into account when setting up a company are: respecting the general interest of the state in the business area of the newly established company; complying with the principle of economic efficiency in establishing the business area of the newly established company; following the principles of a market economy in the operation of the new company; guaranteeing equal and non-discriminatory treatment of business operators in acquiring products or services necessary for carrying out their business dealings; transparency in the allocation of public funds.The ordinance has already been adopted by the Senate, and the Chamber of Deputies is the decision-making body in this case.
Romania’s Competition Council has approved the acquisition of Karamolegos Bakery Romania by Vel Pitar, a company fully owned by global bakery group Bimbo, the authority announced on May 12. Karamolegos Bakery Romania is involved in the production and sale of packaged bread under brands such as KB Toast, KB Selected, and Mândra. It also supplies […]
The National Bank of Romania (BNR) probably spent/sold EUR 6 billion of its foreign exchange reserves to prop up the local currency (leu) last week after the victory of far-right presidential candidate George Simion in the first round of elections, which led to the collapse of the government, according to an analysis by Austrian bank […]
Romania’s foreign trade deficit (goods) widened by 27% y/y to EUR 8.45 billion in Q1, according to data published by the statistics office INS. Exports rose by 2.7% y/y while imports surged by 8.1% y/y. Romania’s deficit in foreign trade in goods has reached EUR 35.2 billion in the four quarters to March 2025, or […]
Romania’s Treasury has launched new issues of government bonds under the Tezaur and Fidelis schemes, paying yields of 6.75% (1-year) to 7.8% (5-year) for the local currency debt and up to 6.25% (7-year) for euros. After the Treasury raised RON 21.4 billion (EUR 4 billion) under the two schemes year to date, the households’ demand […]
Romania’s Treasury on May 12 placed RON 540 million (EUR 100 million) of Government bonds on the domestic market at an average yield of 8.45% by reopening an issue that matures at the end of July 2026, according to the National Bank (BNR). The yield is 1.5 percentage points up from roughly two weeks earlier, […]
With five days remaining until the second round of Romania's presidential elections on Sunday, May 18, the race between far-right leader George Simion and independent candidate Nicușor Dan is extremely close, according to an AtlasIntel opinion poll conducted for
