The amount is not large in the Romanian macroeconomic context, but apparently it's enough to call into question the government promised significant steps such as reducing CAS, the exemption from payment on reinvested earnings, the lowering of VAT. Just as important for the low income people is the recalculation of pensions granted after 2011, which did take place.
Almost a quarter of a million pensioners will receive higher pensions by the end of this month. Recalculation apples to persons who retired after January 1, 2011.
The head of Government, Victor Ponta, announced that CAS will be reduced by 5 percentage points andthe non-taxation of the reinvested profit will be implemented by the middle of this year.
He pointed that the measures call for a budgetary sacrifice.
The government are trying to lessen the impact by introducing the fuel excise of7 cents. The Prime Minister said he would waive the duty tomorrow if there were enough moneyin the budget.
On the other hand, the Minister of Finance said that fuel taxation isnecessary, since the budget already has a shortage of 670 million lei.