WOOD Flash – Romania macro: playing with fire
The political backdrop in Romania has deteriorated further, in our view, as the political pressure on the central bank is becoming increasingly evident, while the budget uncertainty persists. We maintain the view, that during the budget debate some of the more extreme versions of the sectoral taxes will be scaled back. However, as the European Commission continues to be remarkably silent on the fiscal stance of the country, Romania may continue to experience another year of excessively loose fiscal policy and the weakening of institutions, which introduce the risk of a significant weakening of the currency, in our view.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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