Recent fiscal and wage measures to lead to economy overheating, BNR officials warn


The implementation, even in partial, of tax and wage measures recently initiated in the legislative field will lead to an overheating of the economy, with possible knock-on effects on external financing costs and on the leu exchange rate behaviour, National ...

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Central bank governor warns: We lack manpower

isarescu manpower

The domestic demand has been over-stimulated, which led to the increase of imports for the local production had no time to accommodate the requests. “Now we are also facing the lack of manpower,” the central bank (BNR) governor, Mugur Isarescu ...

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BCR’s net profit, up by almost 30 pc in Q3


Banca Comerciala Romana (BCR) achieved a net profit of RON 1,145.4 million (EUR 255.4 million) in the first nine months of this year, up by 26.7 percent year-on-year, supported by new client business and continued improvement of portfolio quality, a ...

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BNR keeps monetary policy rate unchanged at 1.75pc per year


In its meeting of November 4, 2016, the Board of the National Bank of Romania (BNR) decided the following: – to keep unchanged the monetary policy rate at 1.75 percent per annum; – to pursue adequate liquidity management in the ...

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UniCredit: Romania would need 20 years to join the eurozone considering the current pace of economic growth


Romanians could reach the salaries close to those of in Western Europe countries, such as Germany and France, in more than 20 years, in the context where the economic growth is neither fast enough nor quite sustainable to support a ...

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EBRD has revised upwards Romania’s economic growth forecast in 2016 to 4.8 pc


European Bank for Reconstruction and Development (EBRD) has revised upward on Thursday, the economic growth forecast for Romania for 2016 from 4 percent to 4.8 percent and from 3.5 percent to 3.7 percent forecast for 2017. “South-eastern Europe as a ...

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BRD’s net income, up by 68 pc after the first nine months of 2016


For the first nine months of 2016, BRD Group net result stood at RON 606 million, up by 67.9 percent compared to the same period of last year, a press release informs on Thursday. The net profit increase remained significant ...

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Forex reserves continued the upward trend in October, central bank shows


On end-October, the National Bank of Romania’s foreign exchange (forex) reserves increased to EUR 34,347 million, from to EUR 33,299 million on September 30, 2016, up by 3.14 percent, a press release informs on Tuesday. During the month, EUR 1,777 ...

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Credit Europe, Bancpost, Garanti and UniCredit, fined for illegal reporting to the Credit Bureau


During September – October 2016, the National Supervisory Authority for Personal Data Processing (ANSPDCP) carried out several inspections ex officio or following the complaints or notices received, as a result of which sanctions were applied. Thus, several banks and non ...

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