White Mountain Property

National Bank foreign currency reserve hits record high

In February, the Romanian National Bank's foreign currency reserve rose by EUR 1.7 billion to a historical high of EUR 29.74 billion following a transfer to the reserves of half of tranches 3 and 4 of Romania's IMF loan. The National Bank in turn injected RON 627.86 million into the inter-bank market that lends money to commercial banks.

Romania to exit crisis in the second half of 2010

According to the Romanian Academic Society, Romanian GDP is set to rise by to 1.2 %. The Romanian economy is now in the final stage of the economic crisis, having already come through the hardest phase, according to an assessment by the European Investment Bank. The final stage of the crisis will involve "huge" state budget challenges. The recovery of the Romanian economy requires a successful implementation of projects involving European funds.

IMF agrees to release of third and fourth loan tranches worth EUR 2.3 billion

According to a press release published on 19 February on the International Monetary Fund website, the IMF's Executive Board has approved disbursement of the third and fourth loan tranches worth EUR 2.3 billion. The approval comes after the IMF concluded its second and third reviews of Romanian economic performance.

Strong growth in private healthcare services

Romania's private healthcare services market will rise by 13% this year to reach a value of EUR 420 million and will also see further growth in the future, a report by the Polish market research company PMR says. The growing trend for private healthcare reflects increased dissatisfaction among patients with public healthcare provision.

Exports in January 2010 increase by 19.8% compared to January 2009

Exports in January 2010 reached EUR 2.31 billion, representing an increase of 19.8% in comparison with the same period last year, according to estimates published by the National Statistics Institute. At the same time, imports rose by 4.4% compared with January 2009 to reach EUR 2.73 billion, resulting in a lower trade deficit in January 2010 compared with the same month in 2009.