Government Approves Regulations For Children With Parents Working Abroad
The Romanian Government has approved new regulations as regards providing care to children whose parents work abroad.
Schools will send to the social assistance service lists of pupils in this situation. The “Save the Children” Organization has 17 centers ready to help them.
A 2007 study of the organization showed that these children are in a very vulnerable situation, being deprived of their parents’ affection, care and support. (Evenimentul Zilei)
Crude Oil Prices Slide Toward $40/Barrel
U.S. oil futures settled higher on Tuesday, but analysts warned that a global supply glut and a potential slowdown in Chinese demand could help pull prices below $40 a barrel, according to MarketWatch.
September WTI crude CLU5,+0.34% tacked on 75 cents, or 1.8%, to settle at $42.62 a barrel on the New York Mercantile Exchange. On Monday, prices shed 1.5% to settle at $41.87, the lowest settlement level for a front-month contract since March 2009.
On Nymex, September reformulated gasoline RBU5, -0.53% fell 2.5 cents, or 1.6%, to $1.535 a gallon, while September heating oil HOU5, -0.60% lost 2.2 cents, or 1.5%, to $1.496 a gallon. (Romania Libera)
Finance Minister Says New Tax Code Will Generate Economic Growth
Finance Minister Eugen Teodorovici on Thursday said he is confident the new Tax Code will be adopted next week.
The minister also said the country’s budget deficit would drop to around 2% in 2017 following a gradual cut in the VAT rate and the elimination of an additional excise on fuels. He also said the elimination of the special construction tax introduced last year will be RON1 billion, while the elimination of the additional excise on fuels will deprive the state budget of RON2.7 billion.
Romania’s parliamentary parties held talks Thursday ahead of an extraordinary parliament session to reexamine the Tax Code, which the head of state refused to sign into law saying tax cuts alone, not coupled with improved tax collection and sustainable public spending, would create deficits and imbalances that would hinder economic growth. (Puterea)
Romanian Commodity Exchange Ready To Trade Romsilva’s Timber
The Romanian Commodity Exchange (BRM) on Thursday said it is ready any moment to take on as operator on the wood market for state-owned forest manager Romsilva, by setting up the Timber Exchange meant to ensure transparency and the observance of market regulations.
The announcement came after an investigation of the Competition Council into the local timber market revealed that too many tenders organized by Romsilva have a single bidder. (Adevarul)
Social Democrats And Liberals Agree On VAT Cut To 20%
The Social Democratic Party (PSD) and the National Liberal Party (PNL) have reached an agreement on lowering the value added tax to 20%, not to 19%, and putting off a cut in fuel and alcohol excise duties.
Negotiations on the new Tax Code brought a new agreement between PSD and PNL, considering that the two parties agreed on a gradual decrease in the value added tax and on putting off a cut in fuel and alcohol excise duties.
“The main amendment sets that the VAT will be lowered in two stages, namely, to 20%, along with the enforcement of the new Tax Code, as of January 1, 2016, and to 19% starting January 1, 2017,“ Eugen Nicolicea, minister for the relation with Parliament, said at the end of talks between all political leaders. (Adevarul)