Bank analysts: Taxes may increase in Romania

Analysts with the Romanian bank Banca Comerciala Romana (BCR) still consider the possibility that taxes may increase in Romania this year, except for the income tax. They are skeptical about this year's budget and the country's ability to achieve the structural deficit target for this year, of 1% of the GDP. "Although there won't be an increase in the income tax this year, we do not exclude the possibility for this tax to grow in the following years. We also do not remove the possibility of seeing other taxes increasing this year, seeing how optimistic the revenue part of the budget is," according to a BCR report, cited by local Mediafax. The Fiscal Council, the only independent body which issues expert opinions on the state budget and budget execution, shows that revenues for 2015 are overestimated by 0.6% of the GDP, with EUR 932.56 million. Meanwhile, costs are underestimated by about 0.7% of the GDP, with EUR 1.08 billion, according to BCR economists. editor@romania-insider.com