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January 26, 2023
BUSINESS

PM reassures 16pc flat tax will be kept until 2016 and there will be no tax hikes

Attending the 18th edition of the ‘Top Romanian Private Companies – ROP 2013’ event, Prime Minister Victor Ponta noted that the flat rate tax of 16 per cent would remain until the 2016 parliamentary elections, after which the winning party would make a decision on either to keep it or not.
He also revisited the idea that taxes and charges would not be raised in 2015, with the argument that everything that has been adopted and is currently under debate is consistent with the fiscal and budgetary policy that has already been sanctioned by the international bodies. ‘Therefore, in 2015 and 2016, I don’t think the next government has any intention to raise any tax or special fee’, Ponta said.
BNR’s key interest rate to fall below 3 pc in following days
Premier Victor Ponta is expecting the National Bank of Romania’s (BNR) reference interest rate to drop below 3 per cent in the following days. “The National Bank’s reference interest rate was 8.5 per cent in 2009. Now, probably in the following days, it will drop below 3 per cent,” Premier Victor Ponta stated.
Analysts are expecting the cycle of relaxing the monetary policy to continue in November too, with cuts of another 0.25 per cent, so that the key interest rate will reach 2.75 per cent.
Ponta was of the opinion that this is good news for SMEs, since the credits they contract will have lower costs.
BNR Deputy Governor Bogdan Olteanu recently stated that BNR will analyze on Tuesday, November 4, the possible monetary relaxation measures, against the backdrop of easing inflation and under the influence of economic stimulus actions initiated by the ECB.
In August the BNR lowered its inflation rate forecast from 3.3 to 2.2 per cent for this year, and from 3.3 to 3 per cent for 2015, and forecast an average inflation rate of 1.4 per cent this year and 2.4 per cent next year.
Analysts are expecting the cycle of relaxing the monetary policy to continue in November too, with another cut of 0.25 per cent, so that the key interest rate will reach 2.75 per cent.

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