Romania spent 1.5% of GDP on fiscal stimuli since mid-March

The fiscal measures taken by the Romanian Government to support the country's economy since the state of emergency was announced in mid-March generated a 1.5%-of-GDP (EUR 3 billion) negative impact on the budget balance, finance minister Florin Citu announced.

He said that the Government took measures that helped the businesses a lot and represented "fresh air" for companies.

"There were three major categories of fiscal measures that this Government has taken: legislative fiscal measures, passed during the state of emergency and 30 days after; other fiscal measures for the period of emergency; and fiscal measures that remain in place after the state of emergency," Citu said, quoted by Agerpres.

The measures adopted include pausing forced executions, the extension of deadlines for declaring and paying taxes, quick disbursement of VAT refunds with ex-post control, and bonuses for taxpayers who paid their dues on time.

(Photo: Ilona Andrei/ Inquam Photos)