Ministry of Public Finance

In a surprise move, Romania's Prime Minister, Florin Citu, on Thursday sacked the Minister of Finance, his fellow National Liberal Party member, Alexandru Nazare.

"We have delayed projects at the Ministry of Finance - important projects to attract European funds and to eliminate tax evasion," Citu said after the government meeting in which he fired Nazare.

On Thursday, Prime Minister Florin Citu announced having submitted to President Klaus Iohannis a request for the removal from office of Finance Minister Alexandru Nazare.

Finance Minister Alexandru Nazare met on Thursday with Greg Hands, Minister of State for Trade Policy in UK's Department for International Trade, who is in Bucharest for talks with Romanian state officials and representatives of the Romanian business environment on stepping up economic cooperation and UK - Romania trade relations, the Finance Ministry said in a release.

The Social Democratic Party (PSD)'s Executive President Eugen Teodorovici on Thursday expressed "deep disappointment and sorrow" over the fact that Minister of Finance Florin Citu "does not know how to read a budget". In his opinion, Florin Citu held "an attempt of press conference, instead of presenting a situation ten days after taking office".

The Executive chairman of the ruling Social Democratic Party (PSD), Public Finance Minister Eugen Teodorovici on Friday said in northwestern Satu Mare that the Customs will no longer be under the authority of the National Tax Administration Agency (ANAF) but a separate structure under the authority of the Minister of Public Finance.

The budget rectification does not entail funding cuts from ministries such as Transport, Health or Education, and the ministers are under the obligation to spend the allocated money, Minister of Public Finance Eugen Teodorovici told a Tuesday's press conference. As concerns the Ministry of Education he explained from where the reduction in funds that appears in the budget rectification comes.

Authorities have planned to approve the budget revision this week, Finance Minister Eugen Teodorovici stated on Monday in an interview for Radio Romania Actualitati. In this context, the minister specified that things have been clarified and only small details remain to be ironed out, showing at the same time that he is convinced that there will be a positive revision.

Finance Minister Eugen Teodorovici said on Thursday that there is no time for the budget revision to be approved July 31, as initially planned, but the government could pass it a week later.

President Klaus Iohannis on Wednesday signed a decree under which Minister of Public Finance Eugen Teodorovici is appointed acting deputy PM , according to the Presidential Administration. He also took note of the resignation of Deputy Prime Minister Viorel Stefan and the termination of his governmental capacity.

The lump-sum taxation might be more appropriate for both the business environment and the National Tax Administration Agency (ANAF), given that 45,000 companies out of 1.2 million contribute 98 percent of the state budget revenues, Minister of Public Finance Eugen Teodorovici on Tuesday told the conference "Tax Policies for Financial Restructuring and the Support of the Business Environment." "