Home / Tag Archives: MFP

Tag Archives: MFP

State borrows more money from the banking market: RON 30m on Tuesday

The Finance Ministry (MFP) has attracted RON 30 million from banks on Tuesday, in addition to the Monday auction, when it borrowed RON 275 million through a 38-month state bond issue at an average yield of 4.19% per year. The ...

Read More »

Finance Ministry borrows RON 473m from banks

The Ministry of Public Finance (MFP) has borrowed RON 473 million from banks on Monday through benchmark bonds on 73 months, at an average yield of 4.20% per annum, according to data provided by National Bank of Romania (BNR). The ...

Read More »

Consolidated general state budget deficit up to 1.21pc of GDP

The consolidated general state budget deficit increased to RON 10.2 billion (1.21% of GDP) after the first 11 months of this year, up from RON 6.6 billion (0.79% of GDP) in the first 10 Monday, figures released on Wednesday by ...

Read More »

Fin Min announces new tax on amounts transferred abroad by multinational companies. Income tax down to 10pc

The Government will tax the amounts that multinational companies transfer abroad “in an attempt to reduce its tax base,” Finance Minister Ionuţ Mişa has announced. “The European directive on combating the outsourcing of profits of multinational companies – EU Directive ...

Read More »

Gov’t hopes to cut undeclared employment by 10pc after changes brought to the CAS

The reduction and simplification of the social security contributions (CAS) obligations could ensure an annual decrease of the undeclared employment by about 10% and additional RON 3 billion would be collected, it is shown in the substantiation note to the ...

Read More »

EC approves Romania’s request for extending the derogation scheme from the common VAT system

The European Commission has approved Romania’s request, submitted in April this year, to continue the enforcement of the derogation measure from the common system of value added tax, which allows the exemption of VAT payment of taxable legal persons with ...

Read More »

Budget deficit up to RON 6.5bn, or 0.78pc of GDP in eight months

The execution of the general consolidated state budget in the first eight months of 2017 concluded with a deficit of RON 6.5 billion, or 0.78% of GDP, against the deficit of RON 3.1 billion, or 0.41% of GDP, in the ...

Read More »

Update: Finance Ministry’s foreign currency reserve – EUR 6.3bn. Estimated budget deficit in 2017 – 3.25pc of GDP

The foreign currency reserve of the Ministry of Public Finance (MFP) is about EUR 6.3 billion and is made available to the State Treasury for prudential purposes, in order to limit the risk of refinancing, a press release informs on ...

Read More »