Any Tax Hike Is Problematic – Romanian Ctrl Bk Head

“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.