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Any Tax Hike Is Problematic – Romanian Ctrl Bk Head

An increase of one of Romania’s main taxes is problematic, as the effects of such a measure are uncertain, and the country's new government should first analyze budget spending, central bank governor Mugur Isarescu said Wednesday.
Any Tax Hike Is Problematic - Romanian Ctrl Bk Head
10 dec. 2008, 14:51, English

“Any increase of a main tax in Romania, either the value added tax or the flat tax, is a dilemma. First of all, a careful analysis on the budget, its construction, spending and priorities is needed,” Isarescu said.

According to the central bank governor, Romania’s budget deficit could exceed the 3% of GDP Maastricht limit both in 2008 and 2009, if fiscal measures are not approved in due time.