All News on Economics in Romania

Basescu: According to EU standards, Romania has entered recession

President Traian Basescu on Thursday said that according to the standards of the European Union, Romania has entered recession, adding that economy in Romania is booming only in the imagination of Prime Minister Victor Ponta.

Central bank wants stable exchange rate as it easily influences prices

The National Bank of Romania (BNR, the central bank) is concerned with the stability of the exchange rate of the national currency leu, as its volatility is easily translated to prices, with a particular feature of a lesser impact of appreciation, compared to a nearly double impact of depreciation, BNR Governor Mugur Isarescu declared on Wednesday, upon presenting the quarterly re

PM Ponta: There are 12 arguments in favour of a CAS cut as from October 1

Prime Minister Victor Ponta said Tuesday at the Government House that there are 12 arguments regarding the economic and budgetary policies implemented since 2012 that make a cut in the social security contributions (CAS) possible as from October 1.

Serbian minimum wage: Under one euro per hour

Serbian minimum wage: Under one euro per hour

BELGRADE -- Serbia's net minimum wage - deducting taxes and contributions for mandatory social insurance - will be RSD 115 per hour from July until December.

The Serbian government made the decision on Friday.

Romania Raises Indirect Taxes to Fill Budget Gaps

Romania's government is proposing controversial increases in some taxes after deciding to cut taxes on employers in order to boost job creation.

The cabinet on Wednesday is to start debating a draft Fiscal Code that includes increasing taxes on cars and owners of non-residential properties among other things.

Inflation reaches new historic low, as consumer prices decline nearly 0.3 pct in June

Year-over-year inflation rate in Romania reached a new historic low of 0.66 per cent in June as consumer prices declined nearly 0.3 per cent in June 2014 from May 2014, amidst falling prices for food and services, reveal data released on Thursday by the National Statistics Institute (INS).

Romania to Cut Tax on Firms Over IMF Objections

Against the wishes of the IMF, Romania's government has approved a draft law cutting the social security tax paid by the employers by 5 per cent.

The bill, designed to boost jobs and business, needs the approval of parliament before becoming effective in October, but the centre-left ruling coalition has a majority in parliament to ensure it goes ahead.

Romanians Abroad Send More Cash Home

Remittances again registered an increase in 2013, with Romanians sending home 4.2 billion euro last year, according to data from the National Bank.

The rise is believed to signify that many Romanian emigrants to countries like Italy and Germany have again started to find stable employment after the worst of the financial crisis.

Bulgaria's EU Imports Record 6.1% Increase in Q1 2014

In the period January-March 2014 Bulgarian exports to the EU increased by 0.1% compared to the corresponding period of the previous year and amounted to BGN 6.2B.

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