RI+

Romania-Insider Monthly Wrap-up for July: Action-packed holidays

Our monthly overview for Romania Insider members brings you the main topics of the month, to make sure you don't miss the bigger picture, no matter how often you choose to read the news. If you choose to stay away from much of the media frenzy, this monthly bulletin brings the essentials without wasting a lot of time, in a basic visual version, so you can focus on the text alone. 

Opening photo: Pop concert in Bucharest open only for vaccinated people, on July 29, 2021 - Photo source: Inquam Photos / Ilona Andrei

July was a hot month in Romania this year, both in terms of air temperatures as well as action on the political and business scenes.

While vaccination continues to advance very slowly and Romania faces the risk of a significant fourth pandemic wave in autumn, local politicians turned their full attention to other matters last month.___STEADY_PAYWALL___

High on the agenda are the internal elections in the senior ruling party – PNL – where prime minister Florin Citu challenges the party leadership of Chamber of Deputies speaker Ludovic Orban. Citu’s decision to dismiss finance minister Alexandru Nazare, an Orban supporter, was just one of the moves in this match.

Meanwhile, justice remains a hot potato for the ruling coalition as the reform initiatives launched by reformist (USR-PLUS) justice minister Stelian Ion have met resistance from coalition partners.

Another pressing issue is Romania’s Relaunch and Resilience Plan (PNRR), which is still regarded with skepticism by the European Commission. Unlike other member states, Romania hasn’t received the EC’s approval for the investments included in this plan. On the bright side, Romania has gathered some support for its Schengen membership bid.

On the economic front, Romania’s macro indicators continue to point to growth and the forecasts for 2021 GDP growth have been raised.

On the business scene, the Bucharest Stock Exchange has taken a more central role in recent months. July was a busy month for new listings on BVB while the blue-chip BET index climbed to a new all-time high. Financing through the capital market has gained some traction lately.

Start-up financing continues to run hot in Romania with both new projects and follow-up rounds by existing ones. The mergers & acquisitions activity remains strong and Romanian firms are keener on expanding abroad through acquisitions.

Industry, energy and healthcare are among the sectors where new investments were announced in July. Meanwhile, agricultural production will recover this year and likely contribute to the strong GDP recovery.

Statistics show the COVID-19 pandemic has increased social imbalances in Romania. The population drop continued in 2020 while the number of people at risk of poverty increased.

However, the lifting of COVID-19 restrictions over the summer has unblocked the large music, film and theater festivals in Romania. In sports, Romanian athletes have won several Olympic medals in epee and rowing competitions.


Below, you can browse through the most important topics in June, grouped by relevance. By clicking on a title, you can read the whole article on the Romania-Insider.com website.

 

COVID-19 - Low progress with vaccination

 

POLITICS & JUSTICE: Power struggles

 

MACROECONOMY & PUBLIC FINANCE: Bound to grow 

 

BUSINESS: Stock market and start-up financing runs hot, new investments

 

SOCIAL & LIFE:  Imbalances grow, return of the festivals

 

RI+ (Exclusive Content for MEMBERS published in July)

R-Create: Romanian-born startup aims to conquer Europe with returnable packaging solution

Unusual times, unusual buildings: The upside down house in Romania

Online shopping: Romanian startup uses technology & stylists to pick the perfect outfits for customers

Refreshing destinations: Five salt mines to visit in Romania to escape the summer heat

Romania travel: Five Instagrammable cities to visit this summer

andrei@romania-insider.com

(Photo source: Inquam Photos)

Normal
RI+

Romania-Insider Monthly Wrap-up for July: Action-packed holidays

Our monthly overview for Romania Insider members brings you the main topics of the month, to make sure you don't miss the bigger picture, no matter how often you choose to read the news. If you choose to stay away from much of the media frenzy, this monthly bulletin brings the essentials without wasting a lot of time, in a basic visual version, so you can focus on the text alone. 

Opening photo: Pop concert in Bucharest open only for vaccinated people, on July 29, 2021 - Photo source: Inquam Photos / Ilona Andrei

July was a hot month in Romania this year, both in terms of air temperatures as well as action on the political and business scenes.

While vaccination continues to advance very slowly and Romania faces the risk of a significant fourth pandemic wave in autumn, local politicians turned their full attention to other matters last month.___STEADY_PAYWALL___

High on the agenda are the internal elections in the senior ruling party – PNL – where prime minister Florin Citu challenges the party leadership of Chamber of Deputies speaker Ludovic Orban. Citu’s decision to dismiss finance minister Alexandru Nazare, an Orban supporter, was just one of the moves in this match.

Meanwhile, justice remains a hot potato for the ruling coalition as the reform initiatives launched by reformist (USR-PLUS) justice minister Stelian Ion have met resistance from coalition partners.

Another pressing issue is Romania’s Relaunch and Resilience Plan (PNRR), which is still regarded with skepticism by the European Commission. Unlike other member states, Romania hasn’t received the EC’s approval for the investments included in this plan. On the bright side, Romania has gathered some support for its Schengen membership bid.

On the economic front, Romania’s macro indicators continue to point to growth and the forecasts for 2021 GDP growth have been raised.

On the business scene, the Bucharest Stock Exchange has taken a more central role in recent months. July was a busy month for new listings on BVB while the blue-chip BET index climbed to a new all-time high. Financing through the capital market has gained some traction lately.

Start-up financing continues to run hot in Romania with both new projects and follow-up rounds by existing ones. The mergers & acquisitions activity remains strong and Romanian firms are keener on expanding abroad through acquisitions.

Industry, energy and healthcare are among the sectors where new investments were announced in July. Meanwhile, agricultural production will recover this year and likely contribute to the strong GDP recovery.

Statistics show the COVID-19 pandemic has increased social imbalances in Romania. The population drop continued in 2020 while the number of people at risk of poverty increased.

However, the lifting of COVID-19 restrictions over the summer has unblocked the large music, film and theater festivals in Romania. In sports, Romanian athletes have won several Olympic medals in epee and rowing competitions.


Below, you can browse through the most important topics in June, grouped by relevance. By clicking on a title, you can read the whole article on the Romania-Insider.com website.

 

COVID-19 - Low progress with vaccination

 

POLITICS & JUSTICE: Power struggles

 

MACROECONOMY & PUBLIC FINANCE: Bound to grow 

 

BUSINESS: Stock market and start-up financing runs hot, new investments

 

SOCIAL & LIFE:  Imbalances grow, return of the festivals

 

RI+ (Exclusive Content for MEMBERS published in July)

R-Create: Romanian-born startup aims to conquer Europe with returnable packaging solution

Unusual times, unusual buildings: The upside down house in Romania

Online shopping: Romanian startup uses technology & stylists to pick the perfect outfits for customers

Refreshing destinations: Five salt mines to visit in Romania to escape the summer heat

Romania travel: Five Instagrammable cities to visit this summer

andrei@romania-insider.com

(Photo source: Inquam Photos)

Normal
 

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