The economic news of July 6–13 highlighted regional differences in household incomes, a deterioration in companies’ repayment capacity and the continued restrictiveness of the financing environment.
Wage growth remains slow and uneven across the country, while pressure between housing demand and limited supply continues to build. Meanwhile, the system for recruiting foreign workers is changing, a new Dacia model has been unveiled, and major real estate and foreign investment transactions have taken place. In Szeklerland, the same week brought both layoffs and the successful recovery of a local company.
1. Wage map: average earnings rose by double digits only in Sibiu County: In April, the national average net wage increased by just 3.5% compared with the same month a year earlier. Sibiu was the only county to record double-digit growth, at 10.2%. Bucharest continues to lead the wage ranking, but monthly fluctuations show that higher nominal earnings do not automatically guarantee stable purchasing power.
Regional differences shape both labour mobility and companies’ wage costs. Faster-growing areas attract employees more easily, while lower-wage counties may face stronger outmigration and labour shortages.
2. Corporate loans: the non-performing loan ratio rose to 5.6%: Non-performing loans accounted for 5.6% of lending to non-financial companies in March 2026, up from 4.4% a year earlier and 3.8% in March 2024. The deterioration is particularly marked in agriculture, utilities and retail.
Payment discipline among large companies has also moved closer to the level observed among medium-sized firms. This suggests that high interest rates, weak demand and rising costs are no longer affecting only smaller businesses. Banks may respond with stricter credit assessments and higher collateral requirements.
3. NBR: the key interest rate remained at 6.5%: The National Bank of Romania kept its monetary policy rate unchanged at 6.5% on July 8. The lending facility rate remained at 7.5%, while the deposit facility rate stayed at 5.5%. The key rate has been at this level since August 2024.
The central bank’s caution is mainly driven by inflation: the annual rate rose from 9.87% in March to 10.85% in May. At the same time, the economy contracted by 1.2% year on year in the first quarter. For companies and households, this means that a meaningful decline in borrowing costs is unlikely in the short term.
4. Housing market: the NBR still considers it undervalued, but supply is limited: Despite rising prices, the NBR’s indicators suggest that Romania’s residential property market is not overvalued overall. Affordability has even improved relative to household incomes, financing costs and rents, while the gap between demand and new supply continues to push prices upward.
The market is highly concentrated: more than 60% of new mortgage lending goes to ten more developed counties. In major cities, rising housing prices and rents place particular pressure on the budgets of young people, students and first-time buyers.
5. Recruitment of non-EU workers is becoming more restrictive: From August 7, Romania’s system for recruiting workers from outside the European Union will change significantly. Companies will need to use an authorised employment agency or register and obtain the required authorisation themselves through the Work in Romania platform.
Intermediaries will have to provide a financial guarantee of €75,000 for up to 250 workers, plus another €50,000 for every additional group of 250 people. The measure aims to reduce abuse, but it may slow workforce recruitment in construction, logistics, retail and hospitality.
6. Dacia Striker: a new model, but production will be based in Turkey: Dacia has unveiled its new C-segment crossover, the Striker. The starting price is expected to be below €25,000, while production will take place at Renault’s Bursa plant. The annual sales target could approach 100,000 units.
The Striker is important for Dacia’s expansion into higher market segments, but it also raises an industrial policy issue. A growing share of the brand’s expansion relies on production capacity outside Romania, while the competitiveness of the Mioveni plant is affected by energy, labour and logistics costs.
7. AFI: Romania’s largest retail real estate transaction has been completed: AFI Europe has completed the acquisition of six open-air shopping centres in Romania from MAS Property Holdings. The purchase price was close to €197.7 million, while the transaction value, including related bank loans, reached €281.8 million.
The portfolio comprises 125,500 square metres of leasable space and has an occupancy rate of close to 99%. The acquired properties include Sepsi Value Centre in Sfântu Gheorghe. The deal indicates that well-performing regional shopping centres remain attractive investments despite the broader slowdown in consumption.
8. Kärcher: global business services centre to open in Timișoara: German group Kärcher will open a global business services centre in Timișoara in August. Around 80 employees will be hired in the first phase to provide support functions for Kärcher units operating across several international markets.
The company already operates three factories in Romania, employing around 1,300 people, and has invested more than €115 million in its local production platform. The new centre will bring higher-value financial, IT and corporate service functions to the country.
9. Harghita County: layoffs affect nearly 150 jobs: Collective layoffs at two companies in Harghita County affect almost 150 employees. An insolvent textile company in Cristuru Secuiesc has dismissed 69 workers, while a shoe factory in Toplița plans to lay off 76 of its current 78 employees from August.
The decisions are driven by declining orders and revenue, as well as the sector-wide crisis. At the end of June, 5,655 unemployed people were registered in Harghita County, and the unemployment rate stood at 4.69%.
10. Bomilact: a local dairy processor returns from insolvency: In contrast to the negative local news, the development of Bomilact in Mădăraș offers a positive example of corporate recovery. The dairy processor entered insolvency during the 2008–2009 crisis, but it is now profitable again and has reached turnover of 25 million lei.
In 1993, the company processed around 600 litres of milk per day; its current capacity is close to 40,000 litres daily. The turnaround was supported by plant modernisation, European funding and entry into major national retail chains.
Conclusion
The week’s economic picture combined slow and regionally uneven wage growth, worsening corporate credit quality and persistently high financing costs. Limited housing supply continues to place upward pressure on prices, while stricter rules for recruiting foreign workers create new adjustment requirements for companies. Developments involving Dacia, AFI and Kärcher show that major corporate investments and transactions are continuing. In Szeklerland, the layoffs and Bomilact’s recovery illustrate both the region’s vulnerability and the opportunities created by modernisation.
As several major economic processes are currently unfolding in parallel, readers who wish to explore any particular topic in greater depth are encouraged to search for the relevant terms online for further analysis and details.
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