Romania's draft budget for 2015 to be ready this week

Darius Valcov, the Minister for Budget, recently said that the draft budget will be ready this Friday, November 28, adding that measures of fiscal relaxation are taken into account, even reducing the VAT rate. "We'll have the budget finalized. From December 2 to 10 we'll discuss it and on December 10 we will present it in the Parliament. We are considering some measures of fiscal relaxation. If they are decided upon, the Prime Minister will communicate them. There will be no tax increase," said Valcov, cited by local Digi24. "Following negotiations with the International Monetary Fund (IMF) it is possible to reduce the VAT rate on some products, but also in a more general way," he added. The IMF Mission Chief to Romania Andrea Schaechter will come to Bucharest on December 2. editor@romania-insider.com