Romania’s chances of becoming a major player on chip market
Romania has the chance of becoming a major player on semiconductor (known as chips) market due to the global crisis in the field. Romania’s government has approved a € 500 million fund for research and production of microchips, according to a statement of the country’s Economy Minister Florin Spătaru at a Cabinet meeting on Wednesday. A press conference on the matter also included Environment Minister Tánczos Barna who came with new data on drought affecting three quarters of the country’s territory..”Drought is affecting just over 70 percent of Romania,s territory”, Mr. Tánczos said. As an example, the price of neon, a noble gas needed for lasers in chip manufacture, reported a sixfold increase between December 2021 and March 2022 due to COVID-19 pandemic and the war in Ukraine.
Weather alarm in Romania
Romania expects at least 24 hours of unstable weather with heavy rains, thunderstorms and hail including the capital Bucharest. Yellow codes were established until tomorrow (Thursday 7) at noon. Wind speed is expected to reach about 70-80 km/hour with 50 to 80 liters of water per square meter, Like other countries in south-eastern Europe, Romania has a temperate continental climate with extremely warm summers and cold snowy winters. In capital Bucharest, summer temperatures regularly reach more the 30 degrees.
Romania’s key rate up by 100 points
Romania’s National Bank (BNR) decided to increase its benchmark rate from 3.75 to 4.75 per year, starting tomorrow (July 7). The decision comes after the country sought to catch up its East- European peers marked by inflation, BNR’s key interest rate hike, the largest since 2008, comes after Romania stepped up its efforts to stop inflation. The BNR lending facility rate is up to 5,75% from previous 4.75% while the deposit facility rate will hit 3.75 percent from a previous 2.75 percent.
Alexandru Danga, RADOR
