Romanian Govt To Continue Spending Reduction Program - Pres

Romanian President Traian Basescu said Thursday that talks with the IMF resulted in the “trust variant”, where the Government will continue its program to massively reduce spending.

6 views

Basescu said the other variant, the "distrust variant" entailed an increase of the value added tax to 24% from 19%, an increase of the flat tax to 20% from 16% and to decrease salaries in the public sector, to fit within a budget deficit target of 6.7 - 6.8% of the GDP.

The second variant, the "trust variant", is the one where the Government is allowed to continue to massively restructure spending.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.