For bank clients, the year 2009 “has put a lock” on the financing door. The balance of individual loans rose insignificantly compared to previous years, and is supported only by the government’s First Home program. Corporate clients are either avoiding knocking on bank doors, or have yielded to very drastic new financing conditions. “The year ...
After this year’s smaller wheat production, due to the drought, there are farmers who are convinced that demand will rise in 2010, and some of them even decided to increase surfaces. One example is Adrian Porumboiu, owner of Racova Com Agro Pan, one of the most important farmers in Romania, who cultivated some 40,000 hectares ...
“The year 2010 will be at least as difficult, if not more so than 2009. We will notice that the retail market contracted at the end of 2009, and was split among several players, but I do not believe this was a happy year. The store model adapted to the crisis is the hard-discount model, ...
The situation is even worse in annual terms, with agriculture the only sector that managed to register positive results. On average, gross domestic product (GDP) fell by an annual 7.4 percent in the first nine months of this year. The annual decline was 7.1 percent in the third quarter, and data provided by Eurostat indicates ...
The annual interest rate on a lei loan worth up to €1 million and with a maturity of up to 12 months rose 0.6 percentage points, to 16.5 percent. Romanian banks cut the price of lei for companies in the February-September period. The position of the National Bank of Romania (BNR) regarding lei loans is ...
Regarding the value of the mobile phone market, this could reach RON 640 mln (about €152 mln) in 2009, 30.43 percent lower than in 2008, when this value amounted to RON 920 mln (€250 mln). A rapid adjustment to the new market conditions and the change of business models helped the phone service market to ...
The official said that the state could play an important part in the market’s rebound, by launching postponed infrastructure projects and using primarily raw materials from domestic production. “In the first nine months of this year, the raw steel production fell to 1.8 million tons from 4 million tons. This is the lowest production registered ...
“Market growth was only for retail, with corporate subscriptions subject to a slow evolution,” according to a declaration for Business Standard by Mihai Marcu, President of MedLife, one of the largest suppliers of medical services, who believes that the advance on the private health care market will be 15 percent in euro in 2009. MedLife ...
“We forecast ending this year with a deficit of 20 percent. Imports will be 35 percent lower than in 2008, and the trade deficit this year will be of €8.5 billion, down 65 percent year-on-year,” according to a statement yesterday by the Secretary General of the National Association of Exporters and Importers in Romania (ANEIR), ...
Isărescu added that solid economic balance must be reestablished, not only in financial terms. “In 1990, there were over 10 million tax-paying employees, and less than 1 mln civil servants. Now there are less than 5 mln workers and 1.5 mln civil servants.
