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Marin Pana

Advance of real wage – a list of anomalies: Administration exceeds health domain by 44%, manufacturing sector drops to less than 90% of economy average

The average gross salary announced by INS for August 2017 was 3,290 lei, by 12% higher than in the previous month The net average wage was 2,364 lei, or 514 euros at the average exchange rate of September 2017 (the actual month of payment) or 1,004 euros in terms of purchasing power at the EU average prices Compared to the reference month of October 1990, the real monthly earning index ...
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Victor Bratu

Split VAT: What does not Government want to see in VAT fraud and why it has a different definition for the VAT gap than the European Commission

When it comes to the "VAT gap", the Romanian Government and the European Commission have different views on the elements contributing to this indicator Even different definitions The difference between the Government's approach and the Commission’s approach sets out two versions, both having an impact on the business environment, which is required to apply the split VAT: either the split ...
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Victor Bratu

Analysis person by person: Government members who decided on split VAT and protect their own companies of VAT split

Photo caption: Prime Minister Mihai Tudose publicly supports split VAT but the company in which he has declared interests does not support Mihai Tudose In the democracy, the power of example is a way often used by state officials to demonstrate the fairness of the decisions assumed We do not see too often that happening in Romania, nor does it happen in the specific case of the changes ...
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Mariana Bechir

Romania could become the only EU country where social contributions are paid only by employees

If the PSD-ALDE alliance does not reconsider the measure of transferring all social contributions to the employees, Romania will be the first EU country where employers will no longer contribute to financing the social security system In the table below, it is noted that all EU member states have divided this burden between the employer and the employee, and in most cases, the contributions ...
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Marin Pana

Foreign investment exceeded EUR 70 billion. Their net income – 3% of GDP

The foreign direct investment (FDI) balance in the Romanian economy reached EUR 70,113 million last year, equivalent to slightly more than 41% of the annual GDP Centralized data, published by the National Bank of Romania show that 70% of this amount (EUR 48,964 million) represented the contribution to the own capital of foreign companies (including reinvested profits) The remaining 30% was the ...
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NEWS

European Commission’s announcement to Government and Parliament: Gas transactions market cannot be monopolized by OPCOM

Romania risks the infringement procedure if the Parliament adopts definitive amendments to the Emergency Ordinance 64/2017 on the natural gas market, which provides for the ... Read more

Ministry of Finance has sold euro bonds worth one billion euros on foreign market

The Ministry of Finance (MFP) placed euro bonds worth EUR 1 billion on the foreign market by reopening the issue with the maturity of 10 ... Read more

Ford launches production of EcoSport in Craiova. Total investment in Romania reaches over EUR 1.2 billion

Ford officially launched the production of the EcoSport SUV at the plant in Craiova, raising total investments in Romania to about EUR 1.2 billion, since ... Read more

VAT Directive - Reform plan: European Commission proposes to abolish zero rate on cross-border purchases

Pierre Moscovici, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, announced on Wednesday in Brussels the proposals of the European Commission for ... Read more

Total political control: Deputy Iulian Iancu insists on offering monopoly to OPCOM on gas trading

OPCOM will have a monopoly on the operation of centralized natural gas markets, and producers will be required to trade, as of January 1, 2018, ... Read more

Romania - world champion of frontier markets in 2017, by return on stock exchange investment

Evolution of BET-TR since the beginning of the year The Romanian capital market had the highest growth among all 23 countries in the portfolio of ... Read more

Investment of the poor: MFP sells one-lei treasury bonds to population and money will be blocked until maturity

The Ministry of Public Finance (MFP) wants to raise money to the budget, leu by leu and says that treasury bills, whose issues have already ... Read more

Strong warning from European Commissioner for Energy: Regulators must be completely independent. BRUA continues

The European Commission monitors the real independence of the regulators in the member states and will take all necessary steps to ensure that it is ... Read more

China's sovereign wealth fund, owner of four logistics parks in Romania

The European Commission has approved the EUR 12 billion deal by which China Investment Corporation, China’s sovereign wealth fund, has taken over the assets of ... Read more

Transelectrica announces that it lends money for investments after Government seized its financial reserves

The national energy system operator, Transelectrica, a state-owned company operating the National Energy System (SEN), tells shareholders that the distribution of additional ROL 171 million ... Read more

Oracle transfers most of its European hardware support activities to Romania

Oracle, the world’s largest software developer, will transfer most of the European hardware support activities to Romania, to reduce current costs. The process of closing ... Read more

LSE Study: Ten Romanian companies can inspire Europe with their rhythm of growth. Meanings of this selection

London Stock Exchange (LSE) analysts have identified ten Romanian companies among the 1,000 small and mid-sized firms in Europe that can inspire the others with ... Read more

Eastern European countries’ exports of weapons increase. Not Romania’s ones

Producers of bullets, assault weapons, and rockets from former communist countries in Eastern Europe saw a significant increase in orders following the conflicts in the ... Read more

European Commissioner: Brexit will decrease budget for Regional Policy by 10-12%. Member states will have to cover these amounts

The budget allocated by the EU to the Regional Policy will decrease by approximately 10-12% after the exit of the UK from the Union, said ... Read more

Government prepares to guarantee unchanged royalty regime throughout offshore concession contracts

The Government is trying to speed up the implementation of the offshore oil operations. There is a bill at SGG that assures companies having oil ... Read more

Consultations on security topics between Poland, Romania and Turkey with participation of Jens Stoltenberg

Preparations for the NATO Summit in 2018 and the reform of the allied command structures were the main topics for the last week’s meeting, on ... Read more

Representatives of prosecutors across the country reject Minister's proposals to amend justice laws

Representatives of prosecutors from all over the country have rejected amendments to the justice laws proposed by Minister Tudorel Toader, General Prosecutor Augustin Lazar said ... Read more

Average monthly spending per household in 2016: Education - 4 lei, Telephone services - 90 lei

Last year, a household spent a monthly average of 4.05 lei for education, 90.71 lei for telephone services and 26.26 lei for health services, according ... Read more

Cost of state indebtedness rises and drags euro exchange rate with it

Government’s hunger for money causes a growing demand on the market, which increases the borrowing cost for the state and encourages distrust in the national ... Read more

Mihai Tudose about royalties: A new law to enter into force on January 1, 2018; royalty level will "depend on companies’ behaviour" in terms of prices pushed by the new excise duty

Prime Minister Mihai Tudose has announced the date of January 1, 2018, as a “certain” term for the entry into force of a long-delayed new ... Read more

File / Share of French investments in Romanian industry decreased compared to 2007. Investment in agriculture and utilities increased

The share of direct investment (FDI) made by French companies in the Romanian industry fell from 56% of total French FDI in 2007 to 46% ... Read more

Prime Minister Mihai Tudose - threats and warnings to banks and oil companies: Romantic period has passed

Prime Minister Mihai Tudose has released several strong signals to banks and oil companies. He says that he is willing to take major risks in ... Read more

MApN states its availability to buy US attack helicopters

Defence Minister Adrian Tutuianu has signed on Wednesday a letter of intent on price and availability regarding the purchase of attack helicopters produced by Bell ... Read more

Minister Ionut Misa: Salary growth to increase public pension fund deficit by 22% in 2018 compared to 2017

The deficit of the public pension fund would be 17.2 billion lei in 2018, up 22% from 14.1 billion lei this year because of the ... Read more