Interest Rates On Home Loans Lower Than Those Under First Home Program
Several banks in Romania have set interest rates on home loans lower than those offered within the government-guaranteed mortgage lending First Home program.
Lenders BCR, BRD and CEC Bank have margins similar or lower than those imposed under the First Home program.
The program was introduced in 2009 and the guarantee fund granted over 132,500 guarantees by the end of January 2015, totaling EUR2.58 billion. The default rate on the program was 0.2%. (Romania Libera)
Fiscal Council Head Says Underground Economy Accounts For 28% Of GDP
Ionut Dumitru, president of the Fiscal Council, told a press conference on economic issues, that the burden of taxes caused the underground economy to make up 28% of Romania’s GDP, 10% higher than the EU average.
“Romania’s underground economy is 10% higher than the EU average of 18%. Only Bulgaria has a higher level of 31%. By comparison with other countries in Central and Eastern Europe, the conclusion is that the underground economy of most countries in the region is above the EU average, except for the Czech Republic whose underground economy is below the EU average,” said Dumitru.
Romania’s new Tax Code, promoted as a fiscal relaxation model, encourages consumption, but leaves the problem of the fiscal burden unsolved and the highest in Europa. (Puterea)
Liberals To Hold Talks With All Political Parties To Endorse No-Confidence Motion
Mugur Cozmanciuc, vice-president of liberals in the Chamber of Deputies, said the National Liberal Party (PNL) will hold talks with all political parties in Parliament in order to support its planned no-confidence motion against the government run by Prime Minister Victor Ponta.
Early this week, liberals said they already raised 160 signatures to submit the no—confidence motion. The opposition needs 275 votes in favour of the motion to topple the Ponta government.
“We raised some 160 signatures, but the motion needed only 139 signatures to be submitted. However, we will keep raising as many signatures as possible,” said PNL’s secretary general Marian Petrache.
Liberals say the Ponta Cabinet lacks credibility considering that Ponta was indicted on charges of accessory to tax evasion and money laundering and 17 counts of forgery. Romanian President Klaus Iohannis called on Ponta to resign, arguing his indictment hurts the country’s image. (Romania Libera)
Mihai Voicu Steps Down As Head Of Electoral Code Commission
Liberal lawmaker Mihai Voicu resigned from the position of president of the Parliament electoral cod commission after social democrats and liberals failed to reach a consensus on the correspondence voting.
The commission suspended its meeting Tuesday after liberal Mihai Voicu announced his resignation.
“There is no meeting, considering the situation created by the resignation of president Mihai Voicu. I propose suspending the meeting until the leaders of parliamentary groups convene to decide on the new headship of this commission,“ said Podasca, vice-president of the commission. (Adevarul)
Robert Negoita To Run For President of Social Democratic Party
Bucharest district 3 mayor Robert Negoita organised a press conference Tuesday to announce that he will be running for president of the Social Democratic Party (PSD).
“I am determined to run for president of the Social Democratic Party at the party’s internal elections due on October 11. (…) It is an important moment for Romania and a crucial time for PSD,” said Negoita.
He added that PSD, the largest political party in the country and part of the ruling coalition, is in a delicate situation, considering that Victor Ponta, its former head and the country’s prime minister, has been indicted and its interim leader Liviu Dragnea has been sentenced in the national referendum case. (Puterea)