Cretu, VISA: Almost 30 pc of Romania’s GDP goes to the underground economy

0 149

Romania is still marked by the underground economy and 28 percent of the country’s GDP, nearly EUR 30 billion, going to this type of economy, Catalin Cretu, regional manager Visa Europe for Romania, Croatia and Slovenia said on Thursday at a press conference.

“We carried out studies about the underground economy, because we need to understand this phenomenon. If we will reach to 30 percent tax collection through credit cards, about RON 23 million could be saved to the budget, Cretu explained.

According to Visa representative, at present, 180 municipalities receive card payments physically, of which 120 municipalities accept directly card payments through the app.

In his turn, Marius Raul Bostan, Minister of Communications and for Information Society, said the amount of payments made in the last five years using reached to just RON 48 million, a ridiculously small sum.

Unfortunately, the budget of the Ministry for Information Society amounts to about RON 15 million, “lower than that of a rich city hall.”

“We will try to expand the platform and to integarte it with the Ministry of Finances,” Marius Bostan added. Currently, about 172 of the 3,000 city halls in Romania accept the payment of local taxes via platform.


- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More