The economist declared for the Money Channel that in 2012 the main financing sources will be the economic growth, an increase in European funds and a chain swap mechanism with state companies that owe money to each other and to the state budget. „Many companies have debts to each other and to the state. The ...
“My message is clear, we do not need another loan from IMF and I exclude this possibility as Romania proved its capacity of borrowing money from the internal and external markets,” said Tanasescu, adding the authorities should cooperate constantly with the financial institutions. “A partnership with the European Commission and IMF is an additional anchor ...
According to provisional data, the revenues estimated at the general consolidated budget amounted to 77.2 billion lei, 0.1 percent down from the same period in 2009. The fiscal incomes rose mainly on the value added tax (VAT) segment, where incomes advanced to -3.7 percent at the end of June from -7.8 percent at the end ...
“It is premature to talk about a new accord with IMF and we are not discussing on this topic at the time,” Boc said. The premier also denied the possibility of changing the VAT as it will remain the same, he said.
The mission will be led by Jeffrey Franks and will settle next to the representatives of the Finance Ministry the budget revision and Romania’s new macroeconomic targets. At the end of the mission, the Fund’s experts will present the revised estimates on the economy and the perspectives on 2011 and will announce if Romania receives ...
The inflation generated by the value added tax (VAT) increase should not worry anyone, as it is not a monetary inflation, said Lybek. He added the Fund estimates inflation to reach about 8 percent at year-end, plus or minus one percentage point, but mentioned this is IMF’s estimate, not the central bank’s (BNR) target. “BNR ...
The fifth installment would be available in two days time, according to the release. Lybek is thus confirming the statements made by the Finance Minister Sebastian Vladescu. The Romanian authorities proved their commitment towards their economic program, which is supported by the stand-by agreement, through identifying some compensatory measures after the decision of the Constitutional ...
Before it will be presented in the government, the bill will be tackled within the governance coalition, the premier mentioned.
Franks declared IMF is analyzing several possibilities to hike budget revenues, but mentioned the government should not hurry and boost taxes. He said the information that showed up in the media on hiking the flat tax and the VAT is not correct. On the other hand, Jeffrey Franks also said the Fund expects the fiscal ...
Before attending the discussions with the IMF officials, Berceanu announced he will ask them to raise expenses by 0.4-0.5 percent of the gross domestic product (GDP) to complete investments in infrastructure and warned Romania’s economy will compress in 2010 as well if the Fund does not accept a higher budget gap. The transportation minister said ...
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