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Mains

Four impact scenarios of OUG 114, as they were presented by Florin Georgescu to Liviu Dragnea and C.P. Tariceanu

The tax on bank assets, called the “tax on greed” by OUG 114 authors who imposed it, may reduce the economic growth by 0.6-1.1 percentage… Mai mult›

Labour cost increase by field of activity. Remarks

Hourly labour costs grew by 13.09% in the fourth quarter of 2018 compared to the same period in 2017, according to data announced by INS.… Mai mult›

Bulgaria vs. Romania: Reform and results of tax authority in Sofia and counter-reform and its consequences in Bucharest

Bulgarian tax authorities, which have successfully implemented a modernization program with World Bank’s support, a program that Romania abandoned after six years of delays and… Mai mult›

Traditional budget surplus in January – 3 times lower than in 2018 and 5 times lower than in 2017

The general consolidated budget ended the first month of 2019 with a surplus of RON 717 million or 0.07% of the estimated GDP for the… Mai mult›

Finance throws away for good contract for ANAF modernization with World Bank: 6 years and EUR 18 million down the drain

Sources close to talks with the World Bank have stated for cursdeguvernare.ro that the Finance Ministry notified the financial institution in November 2018 that it… Mai mult›

Parallel state of underdevelopment: Three years of decline in construction sector, in parallel with economic growth. Differences from our eastern sister countries

Officially published statistical data reveals a massive paradox: Romania is the country that can register a robust year-on-year growth based on a construction sector which… Mai mult›

European Prosecutor’s Office management: EU, from right to left, mobilizes to support Codruta Kovesi, Bucharest sabotages her candidacy

As Romanian authorities raise obstacles in Laura Codruta Kovesi’s rally at the European Prosecutor’s Office (EPPO), European officials and leading EU political leaders, from right-wing… Mai mult›

BNR analysis: Radiography of investments in Romania – under what conditions capital accumulation occurs

Foreign direct investment (FDI) and expectations regarding the demand have a positive influence on capital accumulation in Romania, while uncertainties play an inhibiting role, especially… Mai mult›

National gross minimum wage: in Romania and EU countries

  Romania ranks second to last among EU states in terms of national gross minimum wage, according to data published by Eurostat, at a level… Mai mult›

Some charts: Perfect chaos in Romanian budgets. A 4-year analysis of difference between law and implementation

Although at first glance it is difficult to draft them, Romania’s public budgets are, in fact, a series of indicators and lists of revenues and… Mai mult›

Tax authority’s “armed arm” was handed over to Prognosis Commission. How strongest governmental structure looks?

ANAF’s new president, Mihaela Triculescu, handed over to the National Commission for Strategy and Prognosis – CNSP the power to decide what companies are to… Mai mult›

Legislative Council had already pulled “Ordinance on greed” to pieces even before its adoption: You create bases of a centralized economy and exempt yourself from fiscal-budgetary responsibility

  The opinion issued in December by the Legislative Council on Ordinance 114 (which establishes, among other things, the “tax on greed”) contains no less… Mai mult›

Robotization of Europe: Romania – two times fewer industrial robots than EU average

According to Eurostat, Romania ranked in 2018 among lagging countries that use robots in industrial processes or in services, with a proportion of 3% of… Mai mult›

Romania and Czech Republic – facing German model. Food for thought on external deficit

Romania equalled the UK at the top of European countries in terms of negative balance on the current account to GDP in the third quarter… Mai mult›
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NEWS

ECOFIN / Tax havens list has been updated. Politico: Eugen Teodorovici took EU Finance Ministers by surprise

Finance Ministers of the EU voted on Tuesday at the third meeting of the Council for Economic and Financial Affairs (ECOFIN) chaired by Romania, the… Mai mult›

March 15, 15:00, for 15 minutes: Romania really wants highways!

Dozens of companies, mayoralties, sports teams, public figures, organizations and many ordinary people joined the protest "Romania wants motorways". Of course, the country did not… Mai mult›

Facebook has removed 30 pages and PSD propaganda accounts in Romania

Facebook announced Thursday that it has closed hundreds of false accounts promoting false content in the UK and in Romania and this is the first… Mai mult›

Laura Kovesi, indicted in a second case opened by Magistrates' Investigation Section

Laura Codruta Kovesi was indicted on Thursday in a second case. The section for investigating the crimes committed by magistrates accused her of having led… Mai mult›

Gold reserve was still untouched: Populist diversion or another act against the BNR’s independence

The draft law on the so-called repatriation of Romania's gold reserve is either a populist diversion or another attempt to remove gold from the administration… Mai mult›

Magistrates’ protest, extended to 80 courts and prosecutors' offices. List of requests

The protest of magistrates from Cluj Napoca. More than 200 prosecutors and judges, with white bands on their arm, came in front of the local… Mai mult›

Laws on judiciary, amended again by OUG: judges who were once prosecutors may be appointed as prosecutors

The Government approved on Tuesday an OUG that was not publicly debated, which amends several provisions from laws on the judiciary that refer to prosecutors… Mai mult›

"Iceberg" operation: ANAF announces that it selected 487 companies which are to be audited based on risk analysis

Virgil Pirvulescu, Vice President of ANAF at PwC Annual Tax Conference The National Agency for Tax Administration (ANAF) has identified 487 large and medium-sized companies… Mai mult›

Commissioner Corina Cretu: There is a risk that Magurele Laser will not be completed during this budget implementation

In the absence of a rapid response from the Romanian Government to the European Commission, there is a risk that Magurele Laser can no longer… Mai mult›

Romania joins countries that recognize Juan Guaidó as interim president of Venezuela

The Presidential Administration announced on Friday that President Klaus Iohannis, "as the head of Romania’s foreign policy decisions and Romania's representative at the external level,… Mai mult›

AmCham Romania: Counterproductive public policies have reched an alarming level

Further to the message on the impact of OUG 114/2018 transmitted on Thursday to the organizations in the Coalition for Development of Romania (CDR), AmCham… Mai mult›

Finance minister stopped borrowing money from the market. Teodorovici: We have funding resources for minimum six months

Minister of Public Finance (MFP), Eugen Orlando Teodorovici, has ordered to stop borrowing operations on the market because MFF would have all the money needed… Mai mult›

BNR: If we sold foreign currency to defend Romanian leu, as PSD wants, interest rates would explode and ROBOR would go over 5-7 percentage points

The National Bank of Romania wants a "loyal cooperation" with the Ministry of Public Finance, and that involves a prior consultation with the central bank… Mai mult›

Tax on bank assets was not included in 2019 draft budget

The tax on bank assets was not included in the 2019 draft budget, published on Thursday evening by the Ministry of Public Finance (MFP). According… Mai mult›