The second financial semester

• July 3rd

- Eduard Hellvig, the general director of the Romanian Intelligence Service (SRI), resigns from his position.

• July 4th

- DIICOT prosecutors descend on three social assistance homes in the town of Voluntari. Following the searches, 26 suspects were detained, who, according to DIICOT, had constituted a criminal network that subjected 98 people in care centers to ill-treatment and torture.

- President Klaus Iohannis promulgates the National Education laws.

• July 6

- The road bridge over the Danube, which connects Brăila and Tulcea counties, named by locals and politicians the "Golden Gate of Romania", is inaugurated.

• July 7

- Prime Minister Marcel Ciolacu requests the resignation or dismissal of all those responsible for the situation in the social assistance homes in Voluntari.

• July 12

- Hidroelectrica shares, a leader in electricity production and the main provider of technological services needed in the National Energy System, enter trading on the Regulated Market of the Bucharest Stock Exchange (BVB), under the symbol H2O.

• July 13

- Marius Budăi (PSD) submits his resignation from the position of Minister of Labor, following the scandal at the Voluntari dormitories.

• July 14th

- Gabriela Firea (PSD) resigns from the position of Minister of the Family, also against the background of the Voluntari scandal.

• July 19

- Simona Bucura-Oprescu (PSD) is appointed as Minister of Labor, and Natalia-Elena Intotero (PSD) - as Minister of the Family.

• August 18

- Prime Minister Marcel Ciolacu and his Ukrainian counterpart Denys Shmyhin sign, in Bucharest, a political declaration based on which our country will double the storage, transit and export capacity of Ukrainian grains, from 24 million tons to 48 million tons.

• September 26

- The executive assumes responsibility, in Parliament, for a new package of fiscal measures.

• September 28

- The government decides that, from October 1, the minimum gross salary for the country guaranteed in payment will increase from 3,000 lei to 3,300 lei monthly.

• October 10

- The first visit of Ukrainian President Volodymyr Zelensky to our country is taking place.

• October 26

- President Klaus Iohannis promulgates the Law on the new package of fiscal measures.

• November 3

- Moody's financial evaluation agency reconfirms the rating related to Romania's government debt at "Baa3" for long-term debt and "P-3" for short-term debt, as well as the "stable" outlook.

• November 8

- The Board of Directors of the National Bank of Romania decides the following: maintaining the monetary policy interest rate at the level of 7% per year; maintaining the interest rate for the credit facility (Lombard) at 8% per year and the interest rate for the deposit facility at 6% per year; maintaining the current levels of the mandatory minimum reserve rates for liabilities in lei and in foreign currency of credit institutions.

• November 9

- The Government adopts an emergency ordinance by which it modifies the ceilings regarding the use of cash payments.

- The executive approves the draft law on the public pension system, which it sends to Parliament. According to the normative act, the pensions of over 4.7 million beneficiaries will be recalculated according to the new formula.

• November 15

- The European Commission has revised down its estimate regarding the growth of the Romanian economy this year, from 3.2% - as it anticipated in May, to 2.2%, due to the high inflation that limits real available incomes, the tightening of financial conditions and external demand.

• November 16

- The Government approves the constitutive act of Banca de Investiţii si Dezvoletta SA, a bank provided for in the National Recovery and Resilience Plan (PNRR).

• November 29

- Former Prime Minister Florin Cîţu loses his parliamentary immunity after the Senate plenary approves the request of the DNA regarding the start of the criminal investigation on behalf of the liberal senator accused of abuse of office in the case of the acquisition of anti-Covid vaccines.

• November 30

- The Return Guarantee System becomes operational, which establishes the selective collection of blankets, cans and bottles both for traders and for end users.

• December 4th

- The BNR announces that, on November 30, 2023, the foreign exchange reserves at the National Bank of Romania stood at 58,894 million euros, compared to 58,186 million euros on October 31, 2023. The level of the gold reserve remained at 103.6 tons. Under the conditions of international price developments, its value was 6,187 million euros. Romania's international reserves (currency plus gold) on November 30, 2023 were 65,081 million euros, compared to 64,432 million euros on October 31, 2023.

• December 13

- The National Institute of Statistics (INS) announces that the inflation rate was 6.7% at the end of November.

• December 14

- The NBR announces that, in the period January - October 2023, the current account of the balance of payments recorded a deficit of 18,340 million euros, compared to 22,971 million euros in the period January - October 2022. In its structure, the balance of goods recorded a deficit more small by 3,476 million euros, the balance of services - a larger surplus by 1,160 million euros, the balance of primary incomes - a smaller deficit by 61 million euros, and the balance of secondary incomes - a smaller surplus by 66 million euros.

• December 20

- The Plenary of the Parliament votes the new leadership of the Financial Supervision Authority (ASF): Alexandru Petrescu - president, Gabriel Avrămescu - first vice-president, Gabriela Horga - vice-president for the capital market, Sorin Mititelu - vice-president for the insurance market, Daniel Armeanu - vice-president for private pension funds.

- The Parliament adopts the state budget for the year 2024, which foresees an increase of the Gross Domestic Product by 3.4% and a cash budget deficit of 5%.

• December 27

- The Council of the European Union announces that an agreement has been reached with Austria and the Netherlands for Romania and Bulgaria to join the Schengen area of free movement of people and goods, only with air and sea borders, starting on March 31, 2024.

• December 28

- The Ministry of Finance announces that the general consolidated budget deficit rose to 4.64% of GDP after the first 11 months of the current year, respectively to 73.55 billion lei, from 58.7 billion lei (4.19% of GDP ) in the first 11 months of 2022.

• December 29

- The BET index, of the 20 most liquid securities of the Bucharest Stock Exchange (BVB), rose by 23.1% in the second semester of 2023, while the BET-BK index, the yield benchmark of investment funds in shares, appreciated by 22.9%.

- Transport Trade Services (TTS) shares rose by 69.3% in the second semester, given that the situation in Ukraine favors the activity of the river carrier and the port operator.

- The shares of Sphera Franchise Group (SFG), a company active in the public catering sector, rose by 42.4%, having the second best evolution in the BET index.

- The shares of the wine producer Purcari Wineries (WINE) increased by 37%, the shares of the distribution and logistics company Aquila (AQ) - by 30.3%, while the shares of the telecommunications operator Digi Communications (DIGI) appreciated by 28.3%.

- The shares of BVB, the operator of our capital market, increased by 31.2% in the last six months of 2023.

- The shares of Banca Transilvania (TLV) appreciated by 32% in the second half of last year, while the shares of BRD-Groupe Societe Generale (BRD) had an advance of 35.6%.

- Hidroelectrica shares finished the year with a 16.4% increase compared to the price at which the public offer ended in July.

- OMV Petrom (SNP) shares appreciated by 14.9% in the second half of last year, while Romgaz (SNG) shares advanced by 13.2%.

- The shares of Electrica (EL) rose by 35%, those of Transelectrica (TEL) - by 19.4%.

- The BET-NG index, of energy and utility companies, had an advance of 16.8% in the second semester.

- The BET-FI index, of SIFs plus Fondul Proprietatea, rose by 21.2% in the last six months of last year.