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Romania’s GDP increased by 0.8% y/y in Q1, accelerating from the thin 0.5% y/y advance in Q1. Still, it lags significantly behind the Government’s and even the central bank’s expectations, according to the flash estimate published by the statistics office INS. The figures are disappointing and likely to trigger downward revisions for the full-year economic…

The revenues of Romanian nuclear group Nuclearelectrica (BVB: SNN), which operates the Cernavoda nuclear plant, dropped by 44% y/y to RON 2.1 billion (EUR 420 million) in H1 on lower electricity prices, but the net profit dropped by only 35% y/y to RON 843 million (EUR 170 million) in H1 due to lower tax on…

The Romanian telecommunications group Digi Communications (BVB: DIGI) announced its consolidated revenues increased 13% y/y to EUR 921 million, while its net profit doubled y/y to EUR 54.3 million in H1. The company’s market capitalization reached EUR 1.24 billion after the price of its shares rose by 77% y/y. This puts the annualized profit realized…

Ahold Delhaize taking over Romanian retail chain Profi from Mid Europa Partners poses multiple challenges due to the strong position achieved by the buyer, which already operates local retail chain Mega Image, on both wholesale procurement and retail markets, Romania’s competition body commented on August 14.  The Competition Council also said it is open to…

Romania’s industrial output contracted by 1.6% y/y in Q2, dragged down by the sector of utilities (-10.9% y/y), while manufacturing fared relatively better (-0.3% y/y), according to data published by the statistics office INS.  The seasonally adjusted output dropped by 1.1% q/q, reversing the +1.1% q/q advance in Q1. While the Q2 industrial output figures…

BCR, part of Erste Bank Group, and ING Romania revised their projections for this year’s economic growth to 2.0% (from 2.8% previously), while BRD SocGen admits its 3.4% projection is put at risk by the Q2 GDP flash estimate. Romania’s statistics office INS on August 14 announced 0.8% y/y GDP growth for Q2, in contrast…

The new Pension Law, to be enforced as of September 2024, was designed to achieve fairer compensation for retired persons, based on their contribution to the pension fund, but it adds a significant cost of 0.5% of GDP this year and 1.5% of GDP for the next three years, according to the data published by…

Romania’s natural gas company Romgaz announced its net profit rose by 9% y/y to RON 1.84 billion (EUR 370 million) even if its turnover dropped by 20.4% y/y to RON 3.9 billion (EUR 780 million) in H1. The good result was due to the phasing off of the solidarity contribution charged by the state, after…

The Summer in the City festival brings 50 Cent to Bucharest, where a series of outdoor film screenings have started in Titan Park. In the country, Timișoara is in festive mode for its city celebration, and Danube Delta’s Sfantu Gheorghe hosts the yearly festival dedicated to independent film. In Bucharest: 50 Cent August 18 The concert…

The Romania’s Permanent Electoral Authority (AEP) transferred RON 133 million to six political parties between January and June. The parties, in turn, spent RON 198 million, almost 150% of the amount received, according to a monitoring report released on Wednesday, August 14, by NGO Expert Forum (EFOR).  The report shows that during these six months,…