Senators Decide Prosecutors Requests Require Simple Majority
Senators decided prosecutors’ requests will be approved or rejected with the votes of the majority of senators present, not absolute majority.
Ruling coalition senators thus admitted implicitly the vote that kept Dan Sova from being arrested for corruption was based on an unconstitutional procedure.
The senate voted Tuesday to amend its regulations regarding this matter.
The Constitutional Court ruled back in 2008 that ordinary legislation and all other Parliament decisions, including those regarding parliamentary immunity, require simple majority. While the Chamber of Deputies amended its regulations accordingly at that time, the Senate ignore the ruling for seven years. (Adevarul)
Social Democratic Party Prepares For Party Reform
The ruling Social Democratic Party is preparing for reform and local branches have already been ordered to start procedures to elect new leaders.
Several county organizations of the party are led by interims, following resignations of former leaders amid corruption investigations. The most recent such resignation was in Constanta, where Radu Mazare quit his leading position after holding it for 12 years. (Evenimentul Zilei)
New Tax Code Would Cause Budget Deficits Higher Than 3% Of GDP
The new Tax Code, which the government recently sent to Parliament for adoption, would create large budget deficits, of more than 3% of GDP, according to the Fiscal Council, which gave the draft a negative review.
The application of the new Tax Code in its current form would widen Romania’s budget gap from RON14.8 billion in 2016 to RON27.8 billion in 2019, warning the country would go back to structural deficits at the level of 2010, when the country was forced to lower public sector wages by 25% and raise the VAT from 19% to 24%. (Adevarul)
Central Bank Cuts Key Rate By 25 Bps To Record Low 2%
Romania’s central bank on Tuesday lowered its main monetary policy rate by 25 basis points to a new record low of 2%, in a largely expected move, the sixth rate cut in the current reduction cycle started in August 2014.
It is also the third rate cut in 2015, after another two 25-basis point reductions in the previous two months.
The central bank’s board also decided to narrow the symmetrical corridor of interest rates on the standing facilities around the policy rate to plus/minus 1.75 percentage points from plus/minus 2 percentage points.
The bank kept its minimum requirement ratios at 14% for hard currency deposits and 10% for leu deposits. (Puterea)
EUR6,000 Grants Available For Journalistic Projects On Domestic Violence
Three grants of EUR2,000 each will be granted this year by the Friends For Friends Foundation and Avon Romania for journalistic projects covering the issue of domestic violence.
The application process is open to all writers, professionals or amateurs, journalists or bloggers, regardless of mode of expression.
This is the second edition of these grants and applications are expected by April 26, on www.ffff.ro/burselesuperscrieri. (Adevarul)