Fuel Prices to Drop as of January 1
Fuel prices are expected to drop as of January 1, due to a cut in value-added tax and the elimination of a fuel excise duty.
However, fuel prices have been raised by RON0.3-0.4 in the recent period as oil companies ensured the upcoming price cut wouldn’t affect their revenue.
As of January 1, Romania reduces the standard VAT rate to 19% from 20% and an extra excise duty of EOR0.7 per liter of fuel, introduced by the Victor Ponta government in 2014, will be eliminated. (Puterea)
Government Leaves Minimum Wage Change to Next Cabinet
The minimum wage in Romania will be kept unchanged at RON1,250 and it will be up to the future Cabinet to raise it.
“The next Government will set the minimum wage for 2017,” said Government spokesman Liviu Iolu.
The minimum wage was one of the recurring themes in the recent parliamentary election campaign. Liviu Dragnea, the leader of the Social Democratic Party (PSD), which won the election, said the party planned to raise the minimum wage to RON1,450 starting January 2017. (Evenimentul Zilei)
Overdue Payments on Bank Loans Down 38.5% in November
Overdue payments on bank loans by individuals and corporations continued to drop at the end of this year, by 38.5%, to a total RON13.7 billion at the end of November.
According to central bank data, over RON5.94 billion were payments due on loans in lei (down 37.6%) and around RON7.77 billion were payments due on loans in foreign currency (down 39.1%).
Around RON4.74 billion of the total overdue payments on bank loans were registered in Bucharest. (Adevarul)
Health Ministry Rejects Changes to Smoking Ban
Romania’s Health Ministry rejects any changes sought to be brought to the law banning smoking in public enclosed spaces, enforced as of mid-March 2016.
The ministry said there have been fewer cases of illnesses of which smoking is a direct cause.
The Chamber of Deputies is currently debating amendments to this law, which seek to make it more permissive. (Adevarul)