March in numbers

• March 1

- Fitch rating agency reconfirms Romania's government debt rating at BBB-/F3 for long-term and short-term foreign currency debt, as well as the stable outlook.

- The National Bank of Romania (BNR) announces that, on February 29, 2024, the foreign exchange reserves at the National Bank of Romania stood at 63,128 million euros, compared to 61,416 million euros on January 31, 2024. The level of the gold reserve remained at 103.6 tons. Under the conditions of international price developments, its value was 6,240 million euros. Romania's international reserves (currency plus gold) on February 29, 2024 were 69,368 million euros, compared to 67,685 million euros on January 31, 2024.

- The franc reaches the maximum exchange rate of the month against our currency: 5.1913 lei, according to BNR data.

- The gram of gold, quoted at the minimum level of the month: 303.575 lei, according to the BNR.

• March 6

- PNL organizes, in Bucharest, the Congress of the European People's Party.

• March 7

- The Government decides to continue the IMM Plus state aid scheme and its components until June 30, 2024.

• March 8

- The international arbitration court attached to the World Bank (International Center for the Settlement of Investment Disputes - ICSID) decides to reject the action initiated by the Gabriel Resources company in the Roşia Montană file, implicitly rejecting the requested compensation of over six billion dollars and obliging the respective company to reimburse Romania the court costs related to the arbitration procedure.

• March 11

- The dollar - at the lowest exchange rate of the month against our currency: 4.5397 lei, according to the BNR.

• March 12

- President Klaus Iohannis declares that he wants to become Secretary General of NATO, after this position will remain vacant at the end of Jens Stoltenberg's mandate.

- Euro - at the lowest exchange rate of the month against the leu: 4.9665 lei, according to the BNR.

• March 15

- The NBR announces that, in January 2024, the current account of the balance of payments recorded a deficit of 1,358 million euros, compared to 760 million euros in January 2023. In its structure, the balance of goods recorded a smaller deficit of 229 million euro, the balance of services - a surplus smaller by 351 million euros, the balance of primary revenues - a deficit of 376 million euros, compared to a surplus of 27 million euros in January 2023, and the balance of secondary revenues - a smaller surplus by 72 million euro.

• March 19

- Euro reaches the maximum exchange rate of the month against the leu: 4.9741 lei, according to BNR figures.

• March 20

- European Commission officials, who came to Bucharest, present the annual progress report of our country regarding the implementation of the National Recovery and Resilience Plan, declaring that, if the PSD-PNL government does not make the reforms assumed in the PNRR, Romania's budget deficit will jump 7% of GDP at the end of 2024.

• March 25

- The European Commission shows in a report that, despite some improvements, Romania still faces the vulnerability of fiscal revenues, and the large budget deficits and the high inflation rate, which are all above pre-pandemic levels, make the national economy potentially vulnerable to shocks.

• March 26

- The Ministry of Finance announces that the budget deficit rose to 28.99 billion lei after the first two months of this year (1.67% of GDP), from 17.04 billion lei (1.07%) in the same period of the year last.

- The BNR informs that the monetary mass in the broad sense (M3) recorded, at the end of February 2024, a balance of 677,932.3 million lei. This increased by 1.3% (0.5% in real terms) compared to January 2024, and compared to February 2023 it increased by 10.7% (3.3% in real terms).

• March 27

- The exchange rate of the Swiss franc reaches the lowest level of the month against our currency: 5.0678 lei, according to the BNR.

• March 28

- The dollar - at the highest exchange rate of the month against our currency: 4.6085 lei, according to the BNR.

• March 29

- The gram of gold reaches the maximum price of the month: 330.7911 lei, according to the BNR.

- The BET index, of the 20 most liquid stocks from the Bucharest Stock Exchange (BVB), rose by 7.1% in March, reaching a historical record of 17,025 points.

- The BET-BK index, the yield benchmark of investment funds in shares, had an advance of 5.3%, to 3,116 points, and the BET-NG, of energy and utility companies, of 8.2%, up to 1,226 points.

- Electrica stocks had the best performance in the BET index, appreciating by 13.8% in March, most likely as a result of their entry into the FTSE All-World, FTSE Global All-Cap and FTSE Global Total-Cap indices .

- Romgaz (SNG) shares appreciated by 12.2% last month, recording the second best evolution in BET.

- OMV Petrom (SNP) shares appreciated by 9.2%.

- The shares of Banca Transilvania (TLV) rose by 7.1% in March, those of BRD-Groupe Societe Generale (BRD) - by 11.9%.

- The shares of the distribution and logistics company for the consumer goods market Aquila increased by 11.2% in March, to a new historical record of 1.24 lei.

- The BET-FI index, of SIFs plus Fondul Proprietatea, had an increase of 7.2% in March, up to 60,771 points, as all the components of the share basket appreciated.

• March 31

- The decision of December 30, 2023 of the Council of Justice and Internal Affairs enters into force by which Romania and Bulgaria enter the Schengen area with air and sea borders, for the free movement of goods and people.