Ascultă Radio România Actualitaţi Live

New Fiscal and Banking Measures

The NBR: no monetary policy or banking measures have been made with regard to the rescheduling of debt payments by people with incomes below the average net salary.

New Fiscal and Banking Measures

Articol de Radio România Internaţional, 14 Februarie 2014, 08:48

The Romanian Government’s intention to pass an emergency ordinance under which people who loaned money from banks but whose incomes do not exceed approximately 360 Euros per month would get to pay half the monthly installment for a period of two years, under an agreement with the bank, has triggered fierce debates in Bucharest.

Set forth as a measure aimed at supporting people with low incomes who are nonetheless good debt payers, the proposal was termed by the opposition and by President Traian Basescu as discriminatory, and the finger was pointed, among others, at the National Bank of Romania, accused of electoral bias. According to Traian Basescu, at the end of the day the beneficiaries of this measure would get to pay even more, if we think of interest rates and the extended reimbursement deadline.

Traian Basescu: “I could not believe that the Central Bank was involved in the preparation of such a program, because this is just a false aid, a trick affecting both those who will benefit it and the rest of the population. I’ve checked and indeed the idea started from within the National Bank. I want the National Bank to immediately leave this direction, in which it would be controlled by a corrupt government.”

In turn, the Central Bank has stated it has not taken any monetary policy or banking measure regarding the rescheduling of debt payments by people with incomes below the average net salary. The Bank has said it was only consulted about the project before and during the negotiations between authorities and the IMF, the European Commission and the World Bank.

Prime Minister Ponta too was quick to respond to President Basescu’s accusations: “The National Bank is one of the very few institutions in Romania that have earned respect for their professionalism, lack of bias and dedication for the public and national interest. We congratulate the National Bank, and we wish them good luck in their efforts towards ensuring Romania’s stability, irrespective of political changes.”

Decision makers in Romania would also like to replace the 16% flat tax with a progressive income tax, in three stages, a measure included in the Government’s fiscal and budgetary strategy for the 2014-2016 timeframe. Lower salaries would be taxed by 8 or 12 %. For the rest, the 16% tax would be maintained. Business people say that at a first glance this differentiation could have positive effects, because it would trigger an increase in consumption among the poor population.

More news on RRI.

Parliament's weekly agenda
News in English 31 Martie 2025, 15:34

Parliament's weekly agenda

The legislative proposal on tougher penalties for drivers who get behind the wheel after taking drugs will go before senators...

Parliament's weekly agenda
INFOMama app, health information and services for pregnant women and mothers
News in English 31 Martie 2025, 15:33

INFOMama app, health information and services for pregnant women and mothers

The organization "Save the Children" Romania launches on Tuesday, at the Senate, the mobile application INFOMama,...

INFOMama app, health information and services for pregnant women and mothers
Opening ceremony of the multinational exercise "Sea Shield" in Constanta
News in English 31 Martie 2025, 15:33

Opening ceremony of the multinational exercise "Sea Shield" in Constanta

"Sea Shield 25" includes combat sequences that will test the coordination and response capabilities of the...

Opening ceremony of the multinational exercise "Sea Shield" in Constanta
Ilie Bolojan: Thanks to the NATO shield, Romania has become a safe place
News in English 31 Martie 2025, 04:01

Ilie Bolojan: Thanks to the NATO shield, Romania has become a safe place

Romania will continue to contribute to the promotion of global security and democratic values, interim President Ilie Bolojan...

Ilie Bolojan: Thanks to the NATO shield, Romania has become a safe place
The electoral period for by-elections has started in 19 municipalities
News in English 31 Martie 2025, 03:59

The electoral period for by-elections has started in 19 municipalities

The electoral period for the by-elections that will be organized in 19 localities in 14 counties of the country on May 4, on...

The electoral period for by-elections has started in 19 municipalities
Land and property owners will be able to get their registry extracts online for free
News in English 31 Martie 2025, 03:58

Land and property owners will be able to get their registry extracts online for free

Owners of land and real estate will be able to get their land register extracts free of charge at the land registry counter...

Land and property owners will be able to get their registry extracts online for free
Internship at the Romanian Government
News in English 29 Martie 2025, 20:52

Internship at the Romanian Government

Young people interested in how public administration works can apply for a new edition of the internship program at the...

Internship at the Romanian Government
If the current majority coalition remains on the defensive, it will make a serious mistake, says Prime Minister Marcel Ciolacu
News in English 29 Martie 2025, 20:51

If the current majority coalition remains on the defensive, it will make a serious mistake, says Prime Minister Marcel Ciolacu

If the current majority coalition will remain on the defensive, it will make a serious mistake, says Prime Minister Marcel...

If the current majority coalition remains on the defensive, it will make a serious mistake, says Prime Minister Marcel Ciolacu