07.31.2014

Romania’s upcoming budget revision fails to present sustainable measures to offset the low fiscal collection in the first half of the year or the planned reduction of the social security tax rate, more

06.19.2014

Romania’s target date for joining the euro area seems economically unrealistic and is based on political and strategic rationales, the president of the country’s Fiscal Council Ionut Dumitru said more

06.19.2014

Romania needs additional fiscal measures besides a recently introduced levy on special constructions to compensate for the lower social security tax rate and be able to continue to reduce its budget more

05.09.2014

Romanian government’s planned five percentage-point reduction of the social securities tax will be difficult to achieve considering the low level of tax collections to the state budget, the more

12.11.2013

Foreign banks will continue to deleverage from their Romanian subsidiaries for at least another year before the process is completed, the head of the country’s parliament-appointed Fiscal Council more

09.12.2013

Tax evasion in Romania climbed about 3 basis points since the beginning of the crisis to 14% of the gross domestic product in 2012, from 11.2% of the GDP in 2008, according to a report by the Fiscal more

08.13.2013

The Romanian Government’s recent announced budget revision breaks several fiscal-budgetary rules and is based on unrealistic expectations, especially overestimated revenue from the income tax and more

11.22.2012

Romania must find solutions to divert more foreign capital toward financing the current account deficit, Ionut Dumitru, head of the country's Fiscal Council, said Thursday. more

10.23.2012

Romania’s Government harms the credibility of the fiscal responsibility law by further increasing budget expenses, according to the Fiscal Council. more

11.28.2011

The Fiscal Council confirms what Ziarul Financiar said when it raised the issue of the increase in spending on special pensions as a result of the pension reform more

11.25.2011

Romania's Fiscal Council suggests the Government should set quarterly EU fund absorption targets for the ministries and other authorities, since absorption is essential in order to offset the crisis' more

11.25.2011

Romania's Fiscal Council has asked the Government to present the National Infrastructure Development Program's potential impact on the deficit as per ESA95. more

11.25.2011

Raising pensions and wages in the Romanian public sector in the second half of 2012 would violate no less than five provisions set through the fiscal responsibility law, including the interdiction to more

08.12.2011

The fiscal-budgetary strategy does not evaluate the risks that could affect macroeconomic and budget indicators, does not specify adjustment measures and does not give reasons for personnel expense more

08.11.2011

Romania’s 2012 budget deficit target of 3% of the gross domestic product will be “very difficult to achieve”, particularly since the fiscal strategy doesn’t factor in the situation of more

08.03.2011

Romania’s Fiscal Council Wednesday said the budget revision draft proposed by the Finance Ministry breaks the fiscal responsibility law because the additional money to be allocated at the revision more

04.07.2011

The Romanian economy has stabilized, but the country is yet to emerge from its worst recession in over a decade, the parliament-appointed Fiscal Council said Thursday. more