SIMILAR ARTICLES

“SOS” letters sent by business community to state institutions: Reform ANAF!

The member organizations of the Coalition for Romania’s Development (CDR) urge the Government that the reform of ANAF should become one of the “top” priorities… Mai mult

Government has approved procedure for acquiring four multifunctional corvettes built in Romania and asks US Government to sell long-range ballistic missile to it

Romanian Government approved Thursday two decisions on the national endowment programs – “Multifunctional corvette” program and “Multiple long-range ballistic missile launcher system” – HIMARS. According to… Mai mult

Transgaz to participate in Eastring gas pipeline along with Slovak counterpart Eustream

The operator of the national natural gas pipeline Transgaz (TGN) and Eustream, its Slovak counterpart, signed a memorandum of understanding “to investigate the opportunities to… Mai mult

AOAR: Solutions to imbalances produced by chaotic tax legislation – business environment reaction to a slander from a minister

The Businessmen’s Association of Romania (AOAR) proposes a series of solutions to get out of the “chaos” of the fiscal and revenue legislation adopted last… Mai mult

Government has approved OUG to preserve income of IT and part-time employees

The Government approved on Thursday the OUG comprising the measures needed to preserve net wages that professional groups exempted from income tax and part-time employees… 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

"SOS" letters sent by business community to state institutions: Reform ANAF!

The member organizations of the Coalition for Romania's Development (CDR) urge the Government that the reform of ANAF should become one of the "top" priorities… Mai mult

Government has approved procedure for acquiring four multifunctional corvettes built in Romania and asks US Government to sell long-range ballistic missile to it

Romanian Government approved Thursday two decisions on the national endowment programs - "Multifunctional corvette" program and "Multiple long-range ballistic missile launcher system" - HIMARS. According to… Mai mult

Transgaz to participate in Eastring gas pipeline along with Slovak counterpart Eustream

The operator of the national natural gas pipeline Transgaz (TGN) and Eustream, its Slovak counterpart, signed a memorandum of understanding "to investigate the opportunities to… Mai mult

AOAR: Solutions to imbalances produced by chaotic tax legislation - business environment reaction to a slander from a minister

The Businessmen's Association of Romania (AOAR) proposes a series of solutions to get out of the "chaos" of the fiscal and revenue legislation adopted last… Mai mult

Government has approved OUG to preserve income of IT and part-time employees

The Government approved on Thursday the OUG comprising the measures needed to preserve net wages that professional groups exempted from income tax and part-time employees… Mai mult

EBRD: Romania needs to change its economic growth model. Better "sooner than later"

Romania needs to adopt a different economic model if it wants to avoid a crisis caused by the current consumption boom, according to Matteo Patrone,… Mai mult

INS - Context survey: stability or even stagnation, employees about the same but all prices up!

According to the perception of managers from the field, the manufacturing industry will register a relative stability of production volume in the following months (conjuncture… Mai mult

Romanian Business Leaders: List of "signs of distrust" in economic year 2018

The Romanian Business Leaders (RBL) Macroeconomic Confidence Index, of 52.3 points, shows that the entrepreneurs and executives from the most important businesses in Romania have… Mai mult

OLAF runs investigation at Metrorex - possible overpriced payments at Metro Line 5

UPDATE: In a statement issued to RFI, OLAF confirmed the investigation at Metrorex, and its topic - the Metro Line 5 (M5) financed by European… Mai mult

Government goes on Eurobond market and attracts over EUR 3 billion. Complicated yields

The Ministry of Finance is trying to take advantage of the still favourable conditions for emerging government securities and goes on the Eurobonds market with… Mai mult

MFP: Government will borrow RON 74 billion in 2018, only through government bonds

The total volume of loans planned by the Ministry of Finance (MFP) for 2018 amounts to about RON 74 billion. Loans are to be secured… Mai mult

Pessimistic expectations about the future in latest CFA Romania research - economists anticipate a decrease of personal incomes and continuous depreciation of Romanian leu

In December 2017, the macroeconomic confidence indicator of CFA Romania declined to 41 points, the lowest value since April 2013, by 3.1 points below the… Mai mult

Second largest bank in EU, BNP Paribas, opens its branch in Bucharest

BNP Paribas, the largest French bank and the second largest in the EU by the size of assets, will launch its retail operations in Romania… Mai mult

Three options by which BNR intends to moderate lending

The BNR will impose restrictions on credits to the population, to anticipate potential non-payment risks. This could happen in March if the project is approved… Mai mult

Siegfried Muresan: Amendments to Romanian laws on judicial will be discussed in European Parliament

The European Parliament will run debates on the situation of justice in Romania in the next plenary session, in February, in the Strasbourg plenary. The… Mai mult