Table of Contents
The report covers info as of January 07.
Moody's rating agency changed the outlook of Romania's government rating to positive from stable on December 11, while affirming the rating at Baa3. The agency notes at the same time the risks posed by the fiscal easing and wage potentially rising faster than productivity.
Romania's GDP increased by 3.6% y/y in Q3, in line with flash estimates, the statistics office announced on December 4. The growth rate thus accelerated from 3.4% y/y in Q2.Growth was driven in Q3, on the utilisation side, by household consumption (6.3% y/y) - which stimulated imports (3.1% up y/y) and - on the formation side - the value added accumulated in the sector of services (trade, car repair, logistics and horeca - 8.9% up y/y).
The president of Romania's independent Fiscal Council, Ionut Dumitru, has expressed doubts about the sustainability of the 4% growth expected next year. Growth will ease in future, driven by the lack of investments, Dumitru explained.
Under the final version of its Autumn Forecast, the state forecasting body CNP projected the country's GDP to gradually accelerate from 4.1% next year to 4.7% in 2019. The European Commission, in its Autumn Forecast dated November 6, expects next year's 4.1% growth to ease to 3.6% y/y in 2017.
oMoody's upgrades Romania's sovereign outlook to positive
oGDP up 3.6% y/y in Q3 on consumption, better tax collection
oFiscal Council head questions sustainability of Romania's record GDP growth forecast for 2016
oWorld Bank expects 3.9% growth this year in Romania
oIndustrial output flat y/y in October after robust 4.3% y/y growth in Q3 (2.7% up y/y in Jan-Oct)
oElectricity consumption 6.2% up y/y in January-October
oConstruction works in Romania up 9.7% y/y in October
oRetail sales rise by 15% y/y in Romania, in November
oCPI inflation shifts to negative 1.1% y/y in November from negative 1.6% y/y in October
oNet wages in Romania up real 11.6% y/y in October
oRomania says EU funds absorption surged to 74% in December
oRomania's government posts 0.76% of GDP surplus in Jan-Nov
oGovernment endorses 2016 budget planning, Fiscal Council warns of fiscal slippage
oCentral bank keeps monetary policy at 1.75%, cuts forex required reserves
oECB issues opinion on controversial law on mortgage loans in Romania
oBank loans in Romania 2.3% up y/y on 15.9% more mortgage loans at end-Nov
oUS fund JC Flowers fails to take over Piraeus Bank Romania, abandons takeover plans for Carpatica
oC/A deficit widens by 85% y/y to EUR906mn in Jan-Oct
Get Industry Insights. Simply.
Talk to Veronica
+1 718 514 2762
Global Blockchain Technology Market: Overview Blockchain technology offers a secure, fast, and cheaper medium of carrying out online transaction and online transfer of information without the need of third ...
Global Mobile Payment Technologies Market: Overview This report provides an analysis of the global mobile payment technologies market for the period from 2014 to 2024, wherein the period from 2016 to 2024 ...
“Reduction in queuing & transaction time and increased convenience in making low value payments are driving the contactless payment market” The contactless payment market is estimated to grow from ...