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  • The remarkable economic growth of 3.5% registered in 2013 was supported firstly by industry and secondly, by agriculture. For 2014 we expect an economic growth of around 2.1%.
  • The money market and secondary market treasury securities yields fell last week.
  • After few failed auctions in February, the Ministry of Public Finance raised the entire amounts planned at the treasury securities auctions organised since the beginning of the month.
  • Although it started last week negatively, the RON managed to recoup the losses by the end of the week, mainly supported the improvement of political climate.
  • The EUR gained ground against the USD last week, mainly supported by the ECB decision to maintain the key rate at 0.25% and to refrain from implementing measures to relax the monetary policy conditions.

Florentina Cozmâncă
Senior Economist
The Royal Bank of Scotland plc, Edinburgh, Romania Branch

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