January 20, 2023 UPDATE

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Newsroom, 20.01.2023, 20:00

ECONOMY
Romania’s economy will be, this year as well, influenced by global
uncertainties triggered by inflation, the escalation of the war in Ukraine, the
energy crisis and problems in supply chains. This is one of the conclusions of
a report on financial stability, made public by the National Bank of Romania. The
report also mentions a systemic risk entailed by delays in reforms and in
spending EU funds. On the other hand, the central bank calls on Romanians to be
cautious with respect to residential real estate loans, as the high inflation
triggers risks of default.

PHARMACEUTICALS Romania obtained from Brussels a 3-month suspension of
exports for certain drugs, particularly in the antibiotics and oral antipyretic
categories. According to Bucharest, the measure is designed to ensure the
availability of such medication for Romanian patients, as the country is
struggling with a wave of viral respiratory infections.

MILITARY Over 100
troops from the US 1-26 Infantry Battalion are training with Romanian troops
from the Sf. Andrei 300 Infantry Battalion in Galaţi until March this year. According
to the Romanian defence ministry, the US troops were deployed late last year to
the Mihai Kogălniceanu air base, and as of this week they were relocated to Galaţi.
The goal of the joint training scheme is to practice working techniques,
tactics and procedures, and to enhance interoperability in line with NATO
requirements.

DAVOS The international community cannot afford a strategic
ambiguity regarding the war in Ukraine, the Romanian foreign minister said at
the World Economic Forum in Davos. He mentioned the seriousness of the security
crisis and the main risks and challenges for the international system, and
emphasised the need to maintain a world order based on rules, supporting peace
and facilitating solutions to global problems. The Romanian official also
highlighted Romania’s efforts to support Ukraine, such as receiving over 3.3 million
refugees and the transit of over 11 tonnes of Ukrainian grains and agricultural
products, as well as the need to continue supporting this country. Mr. Aurescu had
a number of meetings with representatives of the business communities in Canada
and Portugal, with whom he discussed issues related to the energy sector in
particular. (AMP)