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IMF Deal Keeps VAT, Flat Tax And Salaries – Romanian President

Romanian President Traian Basescu said at the end of the meeting with Austrian investors on Monday, that the deal with the IMF and the European Commission will comprise certain elements which prove that the loan is only “a safety belt.”
IMF Deal Keeps VAT, Flat Tax And Salaries – Romanian President
23 mart. 2009, 20:50, English

Basescu stated that, by taking a loan from the IMF and the EC, Romania has not created a “safety net”, but a “safety belt.” He said this will be borne out when the contract is made public.

Basescu noted that there are several elements that are not characteristic of a country in need of rescue – he said Romania will not have to increase VAT, drop the flat income tax of 16%, nor lower salaries and pensions.