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Annual inflation rate will remain in negative territory until end-2016

Inflation rate

The baseline scenario of central bank’s Inflation Report for this August reveals a projected path of the annual inflation rate that is significantly lower than that previously envisaged, Governor Mugur Isarescu said on Thursday in a press conference. This is ...

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BNR Governor Mugur Isarescu makes his income public

mugur-isarescu-1

Central bank Governor Mugur Isarescu has decided to publish his income after being accused by economist Lucian Isar that he retired in 2014 but still holds the position of head of Romania’s National Bank. Mugur Isarescu has revealed his income: ...

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Romania’s c-bank holds key interest rate unchanged at 1.75 pc

BNR

In its today meeting, the Board of the National Bank of Romania (BNR) decided to keep unchanged the monetary policy rate at 1.75 percent per annum and to maintain the existing levels of minimum reserve requirement ratios on both leu- ...

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BRD ends H1 with a net profit up by 64 pc

brd

BRD posted a substantial increase in profitability after the first six months of this year: the net result stood at RON 381 million, up by 63.5 percent compared to H1 of 2015, leading to a return on equity of 12.1 ...

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François Bloch to be appointed the new BRD’s CEO

François Bloch

As of November 1, 2016, François Bloch will succeed Philippe Lhotte as CEO of BRD, a press release informs on Wednesday. Lhotte remains member of BRD’s Board, while he will take other responsibilities within Societe Generale Group. “Philippe Lhotte has ...

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EIB loan of EUR 15 M to support SMEs projects in Romanian agriculture

Agricover

The European Investment Bank (EIB) is providing a loan of EUR 15 million to Agricover Credit IFN in order to finance smaller projects implemented by SMEs in the agricultural sector. According to a press release, this is the first EIB ...

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Romania’s foreign exchange reserves, an increase by almost EUR 1 bn in July

foreign exchange reserves

On end-July, the National Bank of Romania (BNR)’s foreign exchange reserves stood at EUR 32,659 million, compared to EUR 31,729 million on June 30th 2016, a pres release informs on Monday. During last month, EUR 1,167 million inflows have taken ...

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SOEs to benefit from EBRD experience to improve corporate governance

corporate governance

Good corporate governance of Romanian state-owned companies (SOEs) was the focus of a two-day workshop jointly organised recently by the European Bank for Reconstruction and Development (EBRD) and the Romanian Ministry of Economy, Commerce and Relations with the Business Environment ...

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ANAF backs away on controversial draft regarding access to data of card payers

card

The tax revenue authority in Romania wants to have unconditioned access to the information related to the identity of the card owners whenever they make an electronic payment. The Finance Ministry’s proposal is part of a new draft law intended ...

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Romanians’ savings are increasing at end-June, while loans decrease, BNR shows

BNR

After six months of 2016, broad money amounted to RON 295,067.8 million, up 1.5 percent (1.7 percent in real terms) month on month, National Bank of Romania (BNR) informs. In year-on-year comparison, broad money rose 13.1 percent (13.9 percent in ...

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