Romania To Send Humanitarian Aid To Typhoon-Hit Philippines
Romania will grant humanitarian aid worth 668,000 lei (EUR150,300) to the Philippines, hit by one of the world’s most powerful typhoons on November 8.
The normative act on relief for the Philippines was approved by the Government Wednesday.
Typhoon Haiyan destroyed everything in the areas where it made landfall and killed at least 4,000 people. (EUR1=RON4.4449) (Romania Libera)
BNR Official: Romania Won’t Be Able Join Euro Zone Without Real Convergence Measures
Romania will not be able to join the euro zone and be competitive with its 3 million small farmers, central bank chief economist Valentin Lazea said Wednesday.
“We must implement reforms and real convergence policies regardless of whether we adopt the euro or not. These reforms entail short-term costs, whether they are economic or political costs, but they will bring benefits to everyone in the long run,” Lazea said.
Romania must implement reforms in agriculture to create large farms and boost production, he added. (Evenimentul Zilei)
Minister: Romania To Change VAT Collection System
The payment of VAT upon cashing in invoices instead of upon issuance for companies with annual turnover lower than EUR0.5 million put small and medium sized enterprises at a disadvantage, Romanian Minister-delegate for the Business Environment Maria Grapini said Wednesday.
Therefore, the application of this system will become optional, she added.
The government will also eliminate regulations obliging firms to pay the VAT in maximum 90 days from invoice issuance. (Puterea)
UK Freezes Loans To Romanian, Bulgarian Students
Loans to students from Romania and Bulgaria have been suspended following a suspicious rise in the number of students enrolling at colleges in the UK, The Telegraph reports in its online edition.
According to The Telegraph, Universities Minister David Willetts said loans to students from the two CEE countries have been frozen after an unusual increase in the number getting support from the Student Loans Company (SLC).
Three quarters of the students have failed to prove they are entitled to their loans, SAID Willetts, cited by The Telegraph. (Evenimentul Zilei)