Tsarizm
Eastern Europe News

Romanian Stocks Plunge on Government’s $2.5 Billion Tax Plan

Image by Ștefan Jurcă
Bucharest – BNR Palace (Banca Națională Română)

Romanian stocks plunged and bond yields jumped the most in over three years after the government unveiled surprise measures to curb the budget deficit by raising 10 billion lei ($2.5 billion) of extra revenue, including via a levy on the foreign-dominated banking industry.

Romania’s Dance With Corruption Continues

Faced with a fiscal shortfall that’s in danger of breaching European Union limits, Finance Minister Eugen Teodorovici presented a package of what he called “bold” measures to boost revenue starting in 2019. The plan would also tax energy and telecommunications companies, cap natural gas prices and may revive a controversial initiative to overhaul the retirement system…

To read more visit Bloomberg.

Related articles

Over Sixty Percent Of Russians Hold Putin Responsible For Their Country’s Current Problems

Tsarizm Staff

Video: Joint US/Russian Space Station Crew Return To Earth In Kazakhstan

Tsarizm Staff

Putin Says Israel Is A ‘Russian-Speaking’ Country, As Kremlin Looks To Peel Off Another American Ally

L Todd Wood

Subscribe to our evening newsletter to stay informed during these challenging times!!