Finance Minister Eugen Teodorovici

The draft on gas capping is no longer available on the website of the Ministry of Public Finance. MFP seems to have withdrawn the draft that envisaged reducing and capping the gas price to RON 55 /MWh until June 30, 2021 from its…

The draft law on public procurement, part of the new public procurement law package, was approved on Wednesday by the government. One of the changes aims to reduce costs in the medium and long term by introducing the concept of ‘value for…

The budgetary salary law will be applied in a minimum term of four years and a first step, “not very consistent”, will be made in 2016, Finance Minister Eugen Teodorovici announced on Tuesday at Victoria Palace. “We must know clearly the…

The Romanian Government will amend again the Tax Code by emergency ordinance to cut the VAT on water from 20 percent to 9 percent, Finance Minister Eugen Teodorovici announced late on Thursday, during a meeting with journalists. Cutting…

The government could discuss a future agreement with the IMF during the next mission in March 2016. The International Monetary Fund (IMF) will send another mission to Romania in March 2016, when the Government would discuss a new agreement…

Romania will not manage to conclude a new agreement with the International Monetary Fund (IMF) ahead of next year elections as desired by the authorities, given the history of Fund’s poor evaluations and increase of the budget deficit next…

Romania will lose EUR 4 billion in EU funds related to the period 2007-2013, if it reaches an absorption rate of 80%, and the situation could be repeated in the next financial term, if the people in the responsible institutions are not…

The budget deficit target will be amended upward in the next budget revision scheduled for October 23, given that, by year-end, there will be additional allocations to local budgets amounting to RON 1.4 billion, Finance Minister Eugen…

Romania will formally ask the International Monetary Fund for a new aid deal this year, and the focus of the negotiations would be on implementing structural reforms as opposed to the country's budget deficit, the Finance Minister Eugen…

Romanian tourism employers proposed the introduction of a specific tourism tax, per room or accommodation place, with a limit of up to EUR 5 million in turnover. “We will analyze this option. (…) This decision would reduce the…