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Bucharest
March 6, 2021
BUSINESS

Agriculture Minister: Should we make it to re-launch consumption, agriculture will win

Agriculture will win should the consumption will be re-launched, and the consumers will be able to benefit from the prices’ cut through the food Value Added Tax cut, with June 1, on Monday said the Agriculture and Rural Development minister, Daniel Constantin, in the Herastrau Park in northern Bucharest.

‘I went shopping in the past few days and I was happy to learn that there is already a competition in the market in the past 4-5 days. Two prices are already displayed: the old price with the 24 percent VAT and the new one, with the 9 percent VAT. Moreover, I have spoken with the big retailers and Romanian integrators, producers, processors with their own retail shops and they’ve confirmed me that ever since the launching of this promotion, 4-5 days ago, sales have increased in the first day by 20 percent, a big integrator told me, the second day by 35 percent and I believe this is the goal,’ Daniel Constantin said.

According to the Agriculture minister, consumers will win from the 12.1 percent prices’ cut.

‘Should we succeed to re-launch consumption, agriculture will win. Not to mention the consumers, who will definitely win from the prices’ cut by 12.1 percent, as mathematically results from this VAT cut,’ the Agriculture minister added.

The Value Added Tax is cut as of June 1 2015, from 24 percent to 9 percent for all food, and food should become cheaper by at least 12 percent.

 

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