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March 22, 2023

Isarescu regrets he wasn’t consulted over tax increase

Mugur Isarescu said he would have been in favor of controlling administrative and social expenses and he was not consulted with regard to increasing taxes, but he understands the government’s decision, particularly given that it is a coalition. He expressed hope that producers would be able to bear the costs, Mediafax notes. “I was there for one year and I know how difficult it is to maintain a political and social balance. I also know – and last year is proof in this respect – that when you take measures in a politically and socially imbalanced context, everything goes back one, two, even three years, and this impacts financial stability, let’s say, or price stability to a great extent. Therefore, I cannot take on the kibitzer’s role, the role of someone who gives unwanted advice,” the governor of BNR responded when asked if he agreed to the measures announced by the government or if he had other suggestions. On the other hand, the head of the Central Bank claims that if the gasoline or Diesel price forecast comes true, the impact may be null. Isarescu emphasized that Romania’s risk premium is close to Poland’s and more than half of Hungary’s premium.

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