Romanian PM, tax agency head worried on VAT collection

Romania’s National Fiscal Administration Agency (ANAF) collected RON 32 billion (EUR 7 billion) to the state budget in the first two months of this year, down 0.9% compared to the same period last year. ANAF president Bogdan Nicolae-Stan summoned on Friday a meeting with all the heads of the local ANAF departments to draw up an urgent plan to increase collection. The meeting will take place today. On Friday morning, Romanian Prime Minister Sorin Grindeanu met with finance minister Viorel Stefan and the ANAF president to discuss about the alarming situation of budget revenues. The Prime Minister asked for measures to increase revenues to the state budget. This year’s state budget is based on an economic growth of 5.2%, an inflation rate of 1.4% and a net average salary of RON 2,274 (EUR 504). The budget revenues for this year are estimated at RON 254.7 billion (EUR 56.6 billion), or 31% of the GDP, up by 14% compared to 2016. The budget expenses total RON 278.8 billion (EUR 62 billion), or 34% of the GDP, up 13% compared to last year. The budget deficit is thus expected to stay slightly below 3% of the GDP. editor@romania-insider.com