Press Review - January 4, 2016

01.04.2016 By Gabriela Stan

2016, A Year Of Financial Change For Romanians

In financial terms, 2016 is a year of change for all Romanians, as the government has already prepared several measures with major impact on Romanians’ finances.

The most important financial measure is the VAT cut from 24% to 20%, which should trigger a 3.33% price decrease if it is integrally transmitted. The VAT rate would also be cut to 19% in 2017. The price of electricity and natural gas will also decrease by several percentage points, as well as fuel prices.

VAT on water will be reduced to 9%, while the tax on dividends will drop from 16% to 5%. Micro-plants will be subject to a differentiated taxation system while buildings will be subject to higher taxes.
 

At the same time, local elections will take place at the beginning of the summer, followed by parliamentary elections in November. (Puterea)

Vehicles Accounted For 45.8% Of Romania’s Exports In January-September 2015

Vehicles and other transport equipment made up 45.8% of Romania's exports in the first nine months of 2015, exceeding EUR18.7 billion, according to Economy Ministry data.

Exports on this segment rose 9.66% in January-September, compared with the same period a year before.

Exports of agri-food products come next, with a weight of 10.6%, and a value of EUR4.33 billion, followed by the textile industry products, with a share of 10.43%, totaling EUR4.26 billion. The products of chemicals and plastics industry rank fourth among exports in the first nine months of last year, with a weight of 9.57% and a value of EUR3.91 billion, followed by common metals (8.73%, EUR3.57 billion).  (Romania Libera)

Global Oil Prices Could Hit Low Point In Early 2016

The slump in global oil prices could hit a minimum level in early 2016 although prices could remain low for the next two years, BP Chief Executive Officer Bob Dudley told Reuters.

Brent crude prices fell by 34% last year after dropping 48% in 2014.

At the moment, Brent crude costs $37 per barrel, but several Arab states use much lower levels in building their national budgets. Saudi Arabia estimates an oil price of $29 per barrel for the 2016 budget, while Kuwait uses a price of $30 per barrel, according to Jadwa Investment data. Russia also said it may cut its oil-price estimate for the 2016 budget, following the model of other crude-producing countries. (Adevarul)

Romanian President To Continue Support For Anti-Corruption Struggle

Dan Mihalache, the head of the Presidential Chancellery, stated that President Klaus Iohannis will continue to support the anti-corruption struggle, adding that he has kept his main promise, to have a different type of political activity, without scandals.

"He kept his main promise, to have a different type of political activity, without scandals, without tension, and I think we have a change of climate in the Romanian politics and a beginning of normalization. (...) It has been an important year for the normality and normalization of the Romanian society after the previous 10 years of shows and scandals with Traian Basescu. The President was and will continue to be a firm supporter of the anti-corruption struggle. If you ask me, this was necessary; the Romanian political system needed a cleaning. (…) People started to be aware that nobody is intangible,” Mihalache stated.(Evenimentul Zilei)

Famous Romanian And International Artists To Perform In Romania In 2016

Several of the most popular international artists are coming to Romania in 2016, some of them for the first time, like legendary group Queen, guitarist Brian May, as well as Charles Aznavour.

On the other hand, artists like Andre Rieu, Lara Fabian, Richard Clayderman and Nana Mouskouri are returning to Romania in 2016.

Romanian artists have also prepared concerts. Gheorghe Zamfir will perform on January 13, Directia 5 will have a concert on March 8, while Alexandra Usurelu is inviting Romanians to an unforgettable show at Bucharest National Theatre on January 18.

Metalhead Alternative Rock Awards will take place on January 29, while Vita-de-Vie rock group will celebrate 20 years of activity through a concert on February 20.  (Puterea)