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Romania MPs Agree to Cut VAT to 20% Next Year, 19% in 2017

Members of Romania's parliament across parties agreed on Thursday to cut Value Added Tax (VAT) to 20% from next year, and to 19% from 2017.

VAT in Romania currently stands at 24%.

Aside from the tax cuts, the government led by Prime Minister Victor Ponta also plans to increase considerably the wages in the public sector from 2016.

Reuters: Bulgaria Growing Anxious as Flow of Migrants Keeps Rising

More and more migrants keep arriving in Bulgaria despite a host of measures the country has taken to stem the influx, Reuters reported on Wednesday.

The agency cites official data according to which 25 000 people have applied for refugee status over the past two years, or as many as in the previous two decades combined.

Turkish Lira plunges to new record-low as investor concerns rise

Turkey's Lira plumbed a new record low against the U.S. dollar on Aug. 19 after the Central Bank failed to assuage investor concerns about its ability to defy political pressure and lift rates. The Bank signaled it will not raise borrowing costs before the rate hike move by the U.S.

Hungary to Deploy Police at Border with Serbia to Repel Migrants

Hungary said on Tuesday will send several thousand police officers to its southern border with Serbia to deter migrant influx, international news outlets reported on Tuesday.

Prime Minister Viktor Orban's chief of staff, Janos Lazar, said the deployment of police was needed because of "increasingly aggressive migrants arriving with more resolute demands," according to AP.

Turkish exporters hopeful for third quarter

Turkey's exporters expect the decreasing trend in exports to end in the third quarter, according to a survey by the Turkish Exporters' Assembly. 

Exports from Turkey dropped by 13 percent in July to $10.86 billion and by 8.8 percent to $84.37 billion in the first seven months of the year, compared to the same periods in 2014, due to fluctuations in parity and geopolitical risks. 

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