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.

Romanian heroes fallen in service commemorated in Oarba de Mures
News in English 23 Aprilie 2025, 22:47

Romanian heroes fallen in service commemorated in Oarba de Mures

Romanian heroes who fell on the Western Front were commemorated on Wednesday in Oarba de Mures, 80 years after the end of...

Romanian heroes fallen in service commemorated in Oarba de Mures
Bucharest citizens will be able to apply for an electronic ID card
News in English 23 Aprilie 2025, 22:46

Bucharest citizens will be able to apply for an electronic ID card

Bucharest residents can start applying for an electronic ID card from Thursday. Appointments can only be made online, and the...

Bucharest citizens will be able to apply for an electronic ID card
IMF cuts its growth estimates for the Romanian economy
News in English 22 Aprilie 2025, 23:15

IMF cuts its growth estimates for the Romanian economy

The International Monetary Fund has lowered its growth forecast for the Romanian economy this year to 1.6%, down from 3.3% in...

IMF cuts its growth estimates for the Romanian economy
EC: TikTok has made extra preparations to better manage the May elections
News in English 22 Aprilie 2025, 23:14

EC: TikTok has made extra preparations to better manage the May elections

The European Commission is continuing to work with the online platform TikTok to ensure that there will be no breaches of EU...

EC: TikTok has made extra preparations to better manage the May elections
The fire in Arges "could not have started by natural causes"
News in English 21 Aprilie 2025, 19:01

The fire in Arges "could not have started by natural causes"

The IGAV's two Black Hawk helicopters withdrew last night after dropping 240 tons of water, a vital aid because the...

The fire in Arges "could not have started by natural causes"
Financing guide under the "Rabla for tractors" program published
News in English 21 Aprilie 2025, 19:00

Financing guide under the "Rabla for tractors" program published

This week, another necessary step of the "Rabla for tractors" program was completed - the publication of the...

Financing guide under the "Rabla for tractors" program published
A new multinational exercise on Romanian territory
News in English 17 Aprilie 2025, 21:30

A new multinational exercise on Romanian territory

Around 4.000 soldiers, with over 900 technical means, from 10 allied countries will take part next month in a new...

A new multinational exercise on Romanian territory
The National Audiovisual Council has removed several videos posted online
News in English 17 Aprilie 2025, 21:29

The National Audiovisual Council has removed several videos posted online

The National Audiovisual Council has removed in recent days a number of illegal online materials from TikTok, Facebook and X....

The National Audiovisual Council has removed several videos posted online