1. Market Research

Romania Country Report - April, 2016

  • April 2016
  • 34 pages
  • Emerging Markets Direct Media Holdings
Report ID: 3307118

Summary

Table of Contents

The report covers info as of April 20.

The datio in solutum bill is on the verge of being promulgated in a form harshly criticised by banks.



Key Points

oS&P affirms BBB- rating for Romania; risks tamed by low public, external debt

oPublic debt to GDP ratio down 1.32p to 37.8% at end-Jan

oRomania's C/A deficit widens 8 times y/y to 0.2% of GDP in Jan-Feb

oIMF raises Romania's GDP growth forecast to 4.2% in 2016

oWorld Bank ups Romania's 2016 growth projection to 4%, warns on risks of excessive deficit

oRomania revises upward 2015 GDP growth to 3.8%

oIndustry grows by only 0.8% y/y in February; output in past 12 months increased by 2.2% y/y, decelerating from 2.8% y/y calculated at the end of 2015

oRetail sales growth accelerates to 21.8% y/y in February; services rendered to Romanian households 20% up y/y in February

oConstruction works 8.7% up y/y in February

oCPI deflation deepens in March to minus 3% y/y

oNet wages in Romania up real 15.8% y/y in February

oILO unemployment flat at 6.5% in February

oRevenues to budget 6% above target in Q1, VAT collections 10%-15% down y/y

oPresident Iohannis returns law on macroprudential supervisory body to lawmakers

oCentral bank maintains monetary policy rate at 1.75%; hikes expected for next year

oRomanian banks could sell EUR3bn of NPLs this year, KPMG says

oBanks keep extending mortgage loans to households at fast pace in February

oNew consumer loans to households 66% up y/y in Jan-Feb

oExports return to high growth in February: 9.5% up y/y

oAnnual FOB trade gap 70% up y/y to 3.9% of GDP at end-February

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