August 12, 2024 UPDATE
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Newsroom, 12.08.2024, 20:00
Inflation – The annual inflation rate in Romania rose in July, to 5.42%, from 4.94% in June, as the prices of foodstuffs went up by 1.71%, of non-foods by 6.92%, and of services by 8.52%, according to data published on Monday by the National Institute of Statistics. According to the source, the annual inflation rate in July 2024 compared to July 2023 calculated on the basis of the harmonized index of consumer prices was 5.8%. The National Bank of Romania (BNR) revised downwards the inflation forecast for the end of this year to 4.0%, from the previously estimated 4.9%, and anticipates that it will reach 3.4% at the end of 2025, according to the data presented on Friday by the central bank governor, Mugur Isărescu.
Baccalaureate – In Romania, the autumn session of the Baccalaureate continues, with over 33,000 high school graduates having registered for the exams. Monday saw the assessment of language skills for the Romanian language, mother tongue and modern languages, as well as of digital skills. On Tuesday and Wednesday, language skills in an internationally spoken language will be assessed. The written exams will start next Monday, with the Romanian language and literature test. In the summer session, 78% of the candidates passed the Baccalaureate, and approximately 28,000 were rejected.
Firefighters – The Romanian firefighters in Greece are participating in an action to extinguish a wildfire near the town of Varnava, located in the prefecture of Attica, about 40 km from Athens. According to the General Inspectorate for Emergency Situations in Bucharest, the mission is made difficult because of the rugged terrain, and the high temperatures and low humidity are helping the spread of the fire. According to the assessments of the Greek Civil Protection, the risk of fire remains very high in many areas of the country. There are several outbreaks near the capital, and some residents of the region have received evacuation orders. Tens of wildfires have broken out in Greece since Saturday, and firefighters are still struggling to put some of them out. Hundreds of wildfires have occurred this summer in Greece.
Drought – Almost 600 localities have restrictions on drinking water supply due to the drought, shows a press release of the Romanian Waters National Administration. The most affected are four counties in the east of Romania. Also, several sectors of the Danube have entered the warning phase, and the filling coefficient in the 40 reservoirs is 78%, slightly down compared to last week. On the other hand, the fire that broke out on Friday in the “Iron Gates” Natural Park (south-west) has so far covered over 120 hectares and it seems that it is still expanding. Firefighters, gendarmes, representatives of the park and Romsilva are acting to stop the fire expansion. Their mission is very difficult because of the wind and the rugged terrain.
Bonds – On Monday the Romanian Finance Ministry launched a new issue of treasury bills with one-year terms, and an interest rate of 5.8%, and treasury bonds with three-year terms, with an interest rate of 6.6%. The state securities can only be bought by natural persons until September 5, both online and at the Treasury offices or through the rural units of the Romanian Post. They are transferable and can be redeemed in advance, and the income obtained from investing in securities is non-taxable. The funds obtained by the Finance Ministry through this issue will be used to finance the budget deficit and refinance the public debt. (LS)
