Mains

Three problems in 2018 budget – perseverare diabolicum

The first time it happens, the second time it can be a coincidence but for the third time it is already confirmed the establishment of… Mai mult

Draft / Employers who do not pay employees’ contributions to state budget are at risk of up to 6 years of imprisonment

The intentional non-payment of taxes and contributions due to the budget, subject to the withholding regime, will be considered a tax evasion, according to a… Mai mult

Fiscal Council, on 2018 draft budget: Deficit target depends on exceptional revenues. Overvalued revenues, undervalued expenses

The Fiscal Council published a preliminary opinion on the 2018 draft state budget on Wednesday, stating that this draft remains within the already traditional pro-cyclical… Mai mult

Real convergence – Wage purchasing power: Some comparisons with former communist countries

BNR made a thorough analysis of Romania’s status in terms of real convergence with Western economies. A precondition for adopting the euro, in line with… Mai mult

Eurozone accession in mid-term – single objective that can limit slippages in economy

Keeping the national currency under a controlled float exchange is a way to optimize the sustainable economic growth towards getting closer to the West but… Mai mult

Natural gas prices for Romanians: proportion of taxes, third largest in EU

The largest share of taxes in the natural gas price structure for households has been recorded in Denmark (55% of the price), the Netherlands (53%),… Mai mult

2018 budget – official draft: Ministry of Finance counts on a 5.5% increase and an exchange rate of 4.55 lei/euro. Prime Minister Tudose has doubts

The state budget for 2018 drafted by the Ministry of Public Finance (MPF) counts on a decline in the economic growth only to 5.5% in… Mai mult

European Semester 2018: Romania follows a pro-cyclical fiscal policy, structural deficit went up to 2.3%, compared to MTO target of 1%

The European Commission (EC) has determined that Romania has not taken efficient measures to “correct its significant deviation from the adjustment plan to achieve the… Mai mult

Big budget issue: How we consumed European money in 2017

According to data released by the Ministry of Finance, Romania received only EUR 3.05 billion in the first three quarters of 2017, of which EUR… Mai mult

Romania, “tiger of Europe” again – rate of children at risk of poverty, highest in EU

There are 1.8 million children in Romania at risk of poverty and social exclusion, according to the Eurostat statistics. As a percentage, about half of… Mai mult

Romania – champion of OLAF’s requests for opening criminal cases and recovering embezzled funds

Classic fraud scheme in public procurement The Tel Drum case file in which Liviu Dragnea is accused is just one of the 11 cases in… Mai mult

”New heights of progress and civilization”: official GDP growth – 8.8%. Consequences

The signal forecast that the National Institute of Statistics announced indicates a record growth rate of 8.8% in the third quarter of 2017 on the… Mai mult

BNR meeting minutes: Risks identified before adjusting policies

Before deciding to protect the stability of interest rates more than the stability of the exchange rate and to signal, though, a future increase in… Mai mult

Bloomberg, about Romania: Previous “Chinese” economic growth has led us to the edge of the abyss

The distrust regarding the health of Romania’s economic growth makes foreign analysts remember that the last time when Romania outpaced China in terms of the… Mai mult

An abnormality that has reached its potential: Depopulation does not help too much GDP/capita growth

The data published by Eurostat on the evolution of GDP per capita over the period 2005-2015 show that the growth rate of this key indicator… Mai mult
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NEWS

Brussels offers Romania four months to take measures to correct significant deviation of structural deficit

The European Council issued on Tuesday a new recommendation, at the request of the European Commission, based on the significant deviation procedure, with Romania being… Mai mult

Eurostat: Romania had second lowest tax to GDP ratio within EU, in 2016

In Romania, the ratio between the revenues that must be collected from taxes (including social contributions - tax/GDP ratio) and GDP was 26% in 2016,… Mai mult

9 ambassadors repeat: Venice Commission's opinion is needed to amend laws on judiciary

The nine ambassadors who met on Wednesday with Minister Tudorel Toader shared their "concern over the draft laws on the reform of the judiciary discussed… Mai mult

British Vitruvian Partners bought 30% of Bitdefender

Vitruvian Partners investment fund acquired about 30% of Bitdefender from Axxess Capital and becomes the second largest shareholder in the company, valued at over USD… Mai mult

Split VAT at the Chamber of Deputies: Dilemmas of all kinds. Thresholds for outstanding payments have increased 10 times, Budget Committee to resume debates on Monday

The Budget Committee of the Chamber of Deputies has increased ten times the threshold of the outstanding VAT obligations from which companies will automatically be… Mai mult

Competition Council: Food price increase could be caused by demand excess from budget deficit

The Competition Council started an analysis, following the request of the Ministry of Agriculture, to establish the causes of the accelerated food price increase this… Mai mult

Seizure of all Liviu Dragnea's assets to recover EUR 28 million in Tel Drum case

Liviu Dragnea at the exit of the DNA headquarters where he was expected by a group of supporters and another of protesters. DNA prosecutors have… Mai mult

Rompetrol saga, chapter about money: Government asks KazMunaiGaz to pay the historical debt and demand settlement of case in court

The extension of the memorandum between the Romanian state and KazMunaiGaz, the owner of the Rompetrol Group, will be discussed only after the company's historical… Mai mult

"Not only we have not died, we rank third in the world" - Government approved second budget amendment, deficit of 2.96% of GDP

The second budget amendment this year has been adopted at the government meeting on Wednesday. As the Finance Minister assures, this amendment is "positive", the… Mai mult

Mayors: Government to offset by state budget money municipalities’ losses following tax measures

Mayors accepted on Tuesday in the negotiations with Prime Minister Mihai Tudose and several cabinet members, the promises made by the government officials to partially… Mai mult

Competition Council, "worried" that municipalities are establishing their own companies

The establishment of own companies by local administration to manage the services at the local level is worrying for the competition authority, Bogdan Chiritoiu, President… Mai mult

Draft legislation on judicial system in Parliament – to be debated as a matter of emergency

The ruling coalition registered with the Chamber of Deputies on Tuesday the draft amendments to the three important laws for the judicial system: Law 303/2004… Mai mult

Negative opinion and analysis of Fiscal Council on tax changes. "Tax package" costs 5.2 billion, not planned at all

The Fiscal Council issued a negative opinion on the proposal to amend the Fiscal Code, according to the opinion published Friday on the institution’s website.… Mai mult

Negative opinion from CES for Tax Code changes, Government meeting postponed

The Economic and Social Council, a consultative body of the Parliament and the Romanian Government, issued a negative opinion on Tudose cabinet's draft amendment to… Mai mult

Doing Business 2018: It is easier to do business in Republic of Moldova than in Romania

Romania ranks 45th in the Doing Business 2018 ranking by the World Bank (WB), with a total score of 72.87 points, right under the Republic… Mai mult