SIMILAR ARTICLES

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

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

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

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

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

Prime Minister Ciolos’s draft budget for 2017: realistic growth of over 4%, deficit below 3% of GDP

de Victor Bratu 5.12.2016

Dacian Ciolos, propus de Romania pentru functia de comisar european pentru Agricultura si Dezvoltare Rurala, este audiat in Comisia de agricultura a Parlamentului European, in Bruxelles, vineri, 15 ianuarie 2010. Audierile din comisiile Parlamentului European au inceput, luni, la Bruxelles, urmand ca votul in plenul Parlamentului European sa fie dat pe 26 ianuarie 2010. STEFAN MICSIK / MEDIAFAX FOTOThe budget draft prepared by the Ministry of Finance is based on an economic growth of over 4% and a budget deficit below 3% – figures were announced Sunday by Prime Minister Dacian Ciolos (foto) at Digi 24.

Prime Minister Ciolos announced in the autumn that the Government will not adopt and not send to the Parliament a draft budget for 2017, as the task will remain for the new government and parliament elected after December 11th.

We continue to go with a realistic economic growth of over 4% based on our analysis and forecasts and a budget deficit below 3%. We have not considered any elements or laws passed by the Parliament that are not yet in place or are challenged on the Romanian Court of Accounts,” said Prime Minister Dacian Ciolos Sunday.

This last statement refers to the tax cuts and salary increases decided in the Parliament in the recent months, which have a total impact of approximately nine billion lei.

For the next year, the forecasts of the international financial institutions indicate an economic growth below 4% for Romania. The most optimistic are the experts from the International Monetary Fund, who announced a level of 3.8%, and the most sceptical are the experts of the European Commission – 3.5%.

All experts from Brussels have calculated that, against the background of lower budget revenues, Romania would be, along with Spain, the state with a deficit that will exceed 3% of GDP.

“Romania will likely have the lowest revenues from tax in its history of 20 and something years, according to the estimates of the European Commission, of 25.4% of GDP. The major challenge that any government will have in preparing the 2017 budget is based on this reality,” said the Chairman of the Fiscal Council, Ionut Dumitru, two weeks ago, at a seminar held at the offices of the Central Bank.

Premise: from January 1, VAT will decrease from 20% to 19%, according to the Tax Code. Also, the “pole tax” and extra duty on fuel will disappear next year. All three measures will cause a large budget gap of over seven billion lei.

Mergeți în homepage ›

Publicat la data de 5.12.2016

Lăsați un comentariu


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