Continuing the debate around capping lending, BNR Governor Mugur Isărescu said that the main factor which limits lending is legislative uncertainty, while he explained that fiscal stimuli cannot continue indefinitely. Isărescu argued that the Romanian economy and market are reasonable and that perceived excesses are coming from an excessive presentation and debate in the media.
FinMin Teodorovici announced “harsh” discussions over the budget adjustment began this week. Deputy PM Paul Stănescu presented it as a ‘positive adjustment’, so that everybody has money at least for salaries. The current account deficit, higher expenditures & stagnating economy should raise concerns.
A press release issued by the National Union Block on Monday, July 9, presents the evaluation of the effects the transfer of social contributions had over the past months. Below are some of the main points presented by BNS:
- Some 50% of Romanian employers modified work contracts, while 24% have not made any changes.
- On March 31, 2018, 41.13% of full time contracts had the value of the minimum wage.
- Some 1.2 million employees had smaller incomes, and more than 600,000 were in danger of having them diminished.
· July 3, Ministry of public Finances published the minute from the first consulting session with business representatives over the Fiscal Codes updates.
· July 16 is the deadline for submitting the Single Declaration.
· The National Institute for Statistics confirms the 4% economic growth for 2018 Q1.
· BNR published for public debate the Regulation regarding the institutions authorized to issue electronic currencies.
On July 5, the Draft bill for the approval of the general annual account for the implementation of the state budget, of the annual account for the implementation of the Single National Fund of Health Social Insurance, and of the annual general account of the 2017 public debt was adopted during the Government Sitting,
On July 5, the Government adopted Draft bill on approving the annual general execution account for the 2017 social insurances budget and for the annual general execution account for 2017 unemployment insurances budget.
On July 9, ANAF Order no. 1627/2018 to amend the Technical norms regarding the registration for border purposes of economic operators and other individuals, approved through ANAF Order no. 1886/2016 was published in the Official Gazette.
On July 3,ANAF Order No. 1494/2018 for approving the procedure for establish by default the contribution to the social insurance and social health insurance funds owed by individuals was published in the Official Gazette.
Chamber of Deputies
The Committee for budget, July 9, is expected to issue a report for the Draft Bill on offshore exploitation (Joint report with the Committee for Administration).
Committee for Industries – report on Access Economy Bill.
The Committee for legal matters, July 9, is expected to issue a report for draft bill on approving GEO 54/2010 on fighting against tax evasion, and a joint report with the Committee for Industries on the draft bill regarding the private-public partnership.
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