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Romania

25 December 2013

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Budget 2014 measures announced by government after negotiation with IMF, EU and World Bank

On 4 November 2013, the government listed the measures which will be implemented in 2014, following negotiations with officials from International Monetary Fund, European Commission and World Bank, within the framework of the joint aid package granted by the said institutions.
The agreed measures include:

-   increase of the monthly gross minimum salary (salariul de baza minim brut pe tara) to: (i) RON 850 from 1 January 2013 to 31 June 2014; and (ii) RON 900 afterwards;
-   increase by 25% of royalties for mineral and natural resources, other than oil and gas;
-   introduction of a new excise duty on fuel;
-   indexation of excise duties amounts to reflect the inflation rate for 2013;
-   decrease of social security contributions by 5% from 1 July 2014; and
-   introduction of a new tax on special constructions (e.g. pipelines, storage rooms).

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