09.23.2024

The Fiscal Council reiterates the estimate that Romania will end 2024 with a cash budget deficit of around 8% in its Opinion on the draft of the first revision of the state budget, saying that the more

08.19.2024

The first half of 2024 brought a series of moves with a negative impact over the budgetary execution and, amid the lack of fiscal-budgetary consolidation moves, the gap is likely to go beyond 7% of more

08.16.2023

Romania's Fiscal Council has revised its 2023 budget deficit projection upwards to over 6% of gross domestic product (GDP), in the absence of measures aimed at correcting the budget gap, as per data more

03.21.2022

The profitability of Romanian state-run and private companies, exclusively the ones in the financial sector, has improved in 2020, but the financial results were decisively impacted by the massive more

04.21.2021

The National Recovery And Resilience Plan means 14% of the gross domestic product for Romania and absorbing half of the money allotted through the resilience plan could boost investments in Romania to more

11.24.2020

Romania’s Fiscal Council says the macroeconomic scenario revised by the government, which envisages an economic contraction of 4.2% in 2020 and, despite being more adequate than the previous one more

06.12.2020

Romania's public debt is seen accelerating sharply in 2020-2021, to over 50% of the gross domestic product in an optimistic scenario, and over 55% of GDP in a pessimistic scenario, the Fiscal Council more

01.23.2020

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08.08.2019

Romania's Fiscal Council said Thursday in its stance on the government's proposed budget revision the deficit could reach 3.4-3.7% of gross domestic product unless offset by credible measures. more

07.17.2019

Daniel Daianu has been elected president of the Fiscal Council following the vote of council members on July 16. more

03.11.2019

Romania's Fiscal Council said Monday the country's budget deficit could reach 3.5% of gross domestic product this year, well above the EU limit of 3%, as the state budget is undervalued. more

02.05.2019

Maintaining an economic growth projection of 5.5% in 2019 especially after the emergency decree 114/2018 introducing new taxes is surprising and unwarranted, Romania's Fiscal Council said in a more

02.03.2017

The Fiscal Council said that the state budget draft for 2017, presented by the Finance Ministry, is deliberately and substantially diverging from the national and European fiscal rules signed by more

12.08.2015

Romania’s projected economic growth of 4% for 2016 might be at its peak and is likely to slow down toward 3.5% in 2017, given the lack of investments, and a growth based only on consumption is not more

12.08.2015

Romania's inflation rate is seen dropping to below -2 early next year from the current -1.6% but will rise again to reach 2.5%-3% once the effects of the cut in value-added tax wear off, according to more

12.08.2015

The new government, with a one-year mandate, should focus on few, clear projects, mainly on increasing tax collection, which would be clearly communicated, an on increasing transparency and efficiency more

07.22.2015

Romania should not repeat the mistakes of other states or its own mistakes before the financial crisis, thus economic policies decision makers should act prudently, as it is easy to promise and give more

07.22.2015

Romania’s Fiscal Council said the cut in the standard VAT rate from 24% to 19% as of January 1, 2016 actually means a decrease of 8 percentage points, not five points, given that the average VAT more

04.29.2015

The VAT cut to 9% on food items should have been announced right before its implementation, to avoid price hikes operated by retailers, Fiscal Council head Ionut Dumitru told Coface Country Risk more

02.24.2015

Romania would rather need fiscal relaxation measures in terms of supply, by cutting social security tax, instead of measures to stimulate demand by cutting VAT and excise duties, which will trigger more

12.19.2014

Romania’s Fiscal Council says the fiscal revenue is overestimated by 2.35 billion lei (), or 0.33% of the gross domestic product, in the 2015 budget draft, while the investment expenditure won’t more

12.12.2014

The Fiscal Council representatives estimate that the increase of certain categories of revenue in the 2015 draft budget are overvalued, while other expenses are underestimated, and that doubling of more

12.03.2014

The third budget revision for 2014 is breaking the law and shows the government’s incapacity to organize and implement the budget, mainly in terms of investments, while the payment of certain salary more

11.20.2014

Romania’s government needs to show the International Monetary Fund the resources to cover a budget revenue gap of 15 to 17 billion lei (3.4-3.8 billion euros) next year, according to Ionut Dumitru, more

09.30.2014

Romania's Fiscal Council on Tuesday said the government’s revised estimate for VAT collections is unrealistic, considering collections in July and August, adding the more cautious approach would more