June 28. FinMin held the first consulting session with business representatives over the Fiscal Codes updates. FinMin Teodorovici chaired the session & stated that authorities “are open to any pertinent proposal coming from the business environment.” Contrary to the initial statements (April 2018, June 6, 2018), the FinMin made it clear that the legislative change is just an update to the existing Codes, a “consolidated version” rather than re-written Codes, and that the Gov’t cannot prevent MPs from amending & adding to the Codes. During the discussion, Teodorovici announced that the adoption of GEO 79 was postpone for this autumn, and that this week MPs will operate changes to GEO 25.
Following discussions related to BNR’s intention to cap lending, on June 26, BNR Governor Mugur Isărescu offered more insight into the matter. While denying speculations over BNR's alleged plans to put a cap on lending, Isărescu highlighted that the Central Bank is interested in "a healthy lending, balanced on all its components, sustainable, and I cannot stress it enough, sustainable." Over the course of this summer, the Central Bank plans to hold talks with the Romanian Banking Associations and with non-banking authorities “so that lending becomes the engine of sustainable economic growth.”
Deficit could reach 3.5-3.6% by the end of the year (Fiscal Council).
Chamber of Deputies
The Committee for budget, July 3, is expected to issue a report for the draft bill on GEO 25/2018 (income tax, VAT and excises); as well as the report on the Draft Bill on offshore exploitation (Joint report with the Committee for Administration).
Committee for Industries – report on Access Economy Bill.
The Senate’s Plenum, July 3, votes on the legislative proposal regarding the Court of Accounts and the draft bill approving GEO 46/2018 on the National Office on Centralized Procurement.
GEO on NEETs (RON 2,250 paid to employers)
Ionuț Mișa, ANAF president, June 28, “Employer must give up on bonuses and increase gross wages, the social contributions bill will be promulgated”.
Ionuț Dumitru, Fiscal Council president, June 29, “The budgetary deficit could reach 3.5% - 3.6% by year-end”.
President Klaus Iohannis, June 28, “A Euro-zone budget is not a problem as long as it does not create a new fissure between Euro-zone countries and non-Euro ones”.
Mugur Isărescu, June 29, “We had an economic growth which was among the top in the post-crisis period, almost 7%”.
Mugur Isărescu, June 29, “The gold kept by BNR into the Bank of England account (…) remains our gold. (…) It did not even cross our minds to gamble our gold at the slots machines, as a character (i.e. Lucian Isar) suggested.”
June 28. Gov’t Sitting, PM Viorica Dăncilă announced that the pension point increases by 10% starting July 1.
June 28, the FinMin published the budgetary execution for the first five months of 2018.
June 28. Gov’t approves Memorandum on Romania’s economic study.
June 29, the Ministry of Economy published the 2017 report on the public companies which fall under the authority of the Ministry.
June 25. ANAF published the June 18 – 22 legislative updates.
ANAF put up for debate the Draft Order on social and health contributions, Draft order on sponsorship forms, and the Draft order on income tax for individuals.
FinMin put up for debate the Resolution on State Aid and the Draft Bills on the execution of the general budget & social insurance budget for 2017 (June 27); Draft Resolution on Centralized Procurement (June 26).
ANAF Order No. 1612/2018 approving the List of fiscal obligations paid in the single account was published in the Official Gazette.
Draft bill on corporate governance was adopted by the Senate. The Chamber of Deputies is the decision making body
Draft bill on the 2040 Strategy was adopted by the Senate. The Chamber of Deputies is the decision making body.
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