News

Daily Newsletter - 8 August 2017

Summary

FIC (2)

CDR: Labor deficit is main obstacle to entrepreneurship (Source: cursdeguvernare.ro)

The Coalition for Romania's Development resumed last week the monthly meetings with Cabinet representatives for discussing topics seen as crucial to Romania's competitiveness. According to CDR, the labor deficit is the main obstacle to entrepreneurship in the country.

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Consultants and businesspersons blast split VAT system (Source: digi24.ro)

The Coalition for Romania's Development, the biggest organization representing the local business community, has warned the Cabinet that the proposal to implement the split VAT payment system would create major cash flow problems to honest tax-payers and significant blockages to all the parties involved: Treasury, lenders and ANAF.

Split VAT system would wreck national economy (Source: ziarulunirea.ro)

Business community issues warning (Source: presaonline.com)

Business community issues warning (Source: romanialibera.ro)

Split VAT not part of EC's recommendations (Source: cursdeguvernare.ro)

Tax experts in revolt (Source: zf.ro)

Tax experts in revolt (Source: money.ro)

Split VAT system triggers reaction (Source: curentul.ro)

Split VAT system triggers reaction (Source: cugetliber.ro)

Consultants and businesspersons blast split VAT system (Source: diacaf.com)

VAT rule change sparks controversy (Source: hotnews.ro)

VAT rule change sparks controversy (Source: saptamana.com)

Split VAT system to cause problems (Source: bursa.ro)

Split VAT system to cause problems (Source: cariereonline.ro)

Biris: The economy will grind to a halt (Source: adevarul.ro)

Split VAT system to cause problems to honest tax-payers (Source: diacaf.com)

Split VAT system to cause problems to honest tax-payers (Source: centruldepresa.ro)

Split VAT system to cause problems to honest tax-payers (Source: zf.ro)

CDR issues warning (Source: zf.ro)

Split VAT system to cause problems to honest tax-payers (Source: comisarul.ro)

Split VAT system to cause problems to honest tax-payers (Source: diacaf.com)

Split VAT system to cause problems to honest tax-payers (Source: agerpres.ro)

CDR issues warning (Source: economica.net)

Split VAT system to generate major cash flow problems (Source: obiectiv.info)

CDR issues warning (Source: corectnews.com)

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Macroeconomic News (4)

Average net salary up (Source: cariereonline.ro)

The National Institute for Statistics (INS) announced a that the average net salary reached a new all-time high of RON 2,380 in June. The biggest gains were reported by the healthcare (36%), administration (25%) and education (21%) sectors.

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Ministry of Finance sold RON 200 million worth of bonds (Source: zf.ro)

The Ministry of Finance sold RON 200 million worth of bonds on Monday. The bonds mature on July 26, 2027 and carry an average yield of 3.92%, slightly down from the previous auction for the same maturity, according to BNR.

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ANRE suspends auctions (Source: profit.ro)

The electricity market will continue to be under pressure in the third quarter of this year. ANRE was forced to suspend the auctions held on the centralized market.

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President of France to visit Romania (Source: capital.ro)

The President of France, Emmanuel Macron, will visit Romania on August 24, at the invitation of President Klaus Iohannis, according to an official announcement made by the Presidential Office.

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Financial News (2)

Minister of Finance criticizes mandatory pension funds again (Source: cursdeguvernare.ro)

On Saturday evening, the Minister of Finance criticized the mandatory pension funds again. "There's a European principle saying that you shouldn't charge fees for things you haven't done. The managers of mandatory private pension funds charge 2.5%. That's money going into their accounts, instead of the people's accounts," said Minister Ionut Misa.

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"The Ministry of Finance should find out why banks aren't turning profits" (Source: bursa.ro

"The Ministry of Finance should find out why banks aren't turning profits," said Mugur Isarescu, Governor of the National Bank of Romania (BNR), on Friday.

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Investment News (2)

AKTA to enter local market (Source: economica.net)

Internet and cable TV operator AKTA will launch mobile telecommunications services on August 15. The company will become a quad-play operator and offer MVNO mobile services using Telekom Romania Mobile Communications' network.

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Renault signs Iranian deal (Source: cursdeguvernare.ro)

Renault has signed a production agreement with its Iranian partners that would boost the automaker's output to 300,000 per year. The agreement focuses on the Dacia Duster and Symbol models.

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