Victor Ponta

Romania Introduces Excise on Fuel, Gas, Cigarettes

Romania's excise on fuel, gas and tobacco has come into force, in compliance with an agreement that Bucharest struck with the IMF.

From Monday, fuel prices in Romania will increase with EUR 0.07 per liter, a pack of cigarettes will go up by EUR 0.6 to EUR per liter, and gas will be 2% more expensive for consumers has reported.

Romania Presses on With Controversial Fuel Tax

Romanian Prime Minister Victor Ponta has said his centre-left government will not revoke a controversial fuel tax coming into force on April 1, but promised compensatory measures.

“The measure will help ‘fair' transporters, without a history of tax evasion, who will be able to recover most of the costs [of the new tax],” Ponta said, without offering further details.

Ukraine crisis significant for Chinese investment in Europe

Ukraine crisis significant for Chinese investment in Europe

Beijing has made clear that it wants to retain good relations with the new, pro-Western coalition government in Kiev.

(From left) BiH Prime Minister Vjekoslav Bevanda, Chinese Premier Li Keqiang and Romanian Prime Minister Victor Ponta pose for a photo at a November summit in Bucharest. [AFP]

Liberals Close to Quitting Romania Coalition

Romania's centre-left coalition looked close to splitting up after Klaus Johanis, a leader of National Liberal Party, PNL, on Monday said he was “not very optimistic that the coalition will survive tomorrow.

“We failed to find a solution to the proposed cabinet changes. As a result, our party will decide on Tuesday if our ministers will leave the government or not,” he added.

Party Dispute Threatens Romania Coalition

Prime Minister Victor Ponta on Wednesday took over the role of interim Finance Minister while another member of his ruling Social Democrat Party, PSD, will temporarily head the economy portofolio.

The moves are the latest in a weeks-long feud among Romania’s ruling coalition members, which escalated after the parties failed to agree on cabinet changes.