12.19.2014

Romania’s Fiscal Council says the fiscal revenue is overestimated by 2.35 billion lei (), or 0.33% of the gross domestic product, in the 2015 budget draft, while the investment expenditure won’t more

12.12.2014

The Fiscal Council representatives estimate that the increase of certain categories of revenue in the 2015 draft budget are overvalued, while other expenses are underestimated, and that doubling of more

12.03.2014

The third budget revision for 2014 is breaking the law and shows the government’s incapacity to organize and implement the budget, mainly in terms of investments, while the payment of certain salary more

11.20.2014

Romania’s government needs to show the International Monetary Fund the resources to cover a budget revenue gap of 15 to 17 billion lei (3.4-3.8 billion euros) next year, according to Ionut Dumitru, more

10.21.2014

The Romanian government targets a 5%-6% annual economic growth over a medium term, by keeping fiscal discipline, so that Romania would narrow the gap with other European states, Finance Minister Ioana more

10.07.2014

Individual investors of limited-liability companies who provide capital for a business start-up will benefit from interest-free loans and fiscal exemptions for dividends for three years, Florin Jianu, more

09.30.2014

Romania's Fiscal Council on Tuesday said the government’s revised estimate for VAT collections is unrealistic, considering collections in July and August, adding the more cautious approach would more

08.01.2014

The planned tax on special constructions will be applied starting 2015, most likely at the net fiscal value and not at the gross book value, as it happens now, Romania’s Finance Minister Ioana more

07.31.2014

Romania’s upcoming budget revision fails to present sustainable measures to offset the low fiscal collection in the first half of the year or the planned reduction of the social security tax rate, more

06.19.2014

Romania’s target date for joining the euro area seems economically unrealistic and is based on political and strategic rationales, the president of the country’s Fiscal Council Ionut Dumitru said more

06.19.2014

Romania needs additional fiscal measures besides a recently introduced levy on special constructions to compensate for the lower social security tax rate and be able to continue to reduce its budget more

05.09.2014

Romanian government’s planned five percentage-point reduction of the social securities tax will be difficult to achieve considering the low level of tax collections to the state budget, the more

02.04.2014

The numerous fiscal policy steps taken by the Romanian governments since the beginning of the financial crisis showed lack of strategy and led to poverty, according to a study carried out by lawyer more

12.11.2013

Foreign banks will continue to deleverage from their Romanian subsidiaries for at least another year before the process is completed, the head of the country’s parliament-appointed Fiscal Council more

09.29.2013

Romania must consolidate its commercial, fiscal and accounting rules in order to crack down on tax evasion, central bank deputy governor Florin Georgescu said Saturday at Bucharest Forum. more

09.12.2013

Tax evasion in Romania climbed about 3 basis points since the beginning of the crisis to 14% of the gross domestic product in 2012, from 11.2% of the GDP in 2008, according to a report by the Fiscal more

08.20.2013

The Romanian Finance Ministry has put aside a forex reserve of EUR6 billion, the so-called “fiscal buffer” needed to supply liquidity in case of new shortages on financial markets and if Romania more

08.13.2013

The Romanian Government’s recent announced budget revision breaks several fiscal-budgetary rules and is based on unrealistic expectations, especially overestimated revenue from the income tax and more

03.27.2013

Romania’s fiscal policy might still be procyclical and it doesn’t really help the economy, central bank governor said Wednesday, mentioning that a more relaxed monetary policy would not help much more

03.06.2013

The Romanian Government should focus on reducing the social contributions level in 2013 in order to attract foreign investments and generate economic growth, said Dan Schwartz, managing partner with more

02.27.2013

Governments’ interventions in a market economy may help reduce the negative effects of economic and social constraints during one economic cycle or another, but, unless its interventions are more

01.24.2013

The revised fiscal-budgetary strategy for 2013-2015 can be considered a new governing program of the Ponta 2 Government and one closer to reality. Future policies will most likely be built around more

01.23.2013

Romania’s government has revised downward its estimate on the 2012 economic growth to 0.2% from 0.7% previously, according to the country’s Fiscal Strategy for 2013-2015. more

01.10.2013

Romania’s Fiscal Guard, Fiscal Inspection, the customs authority and the anti-fraud body will be reorganized into a single structure which will carry out company checkups regularly, Finance Minister more

01.07.2013

Romania will no longer use austerity fiscal policies this year but needs financial discipline, especially regarding public spending, central bank governor Mugur Isarescu said Monday. more