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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania’s Resilience Plan is published, but fails to answer key questions

Romania’s Government published the Relaunch and Resilience Plan (PNRR), a document that had previously been submitted to the European Commission for the approval of EUR 29.2 bln worth of grants and soft loans to be disbursed and spent by the end of 2026.

The 1,200-page document is still under scrutiny by experts, but some questions are still unanswered.

Some of them were addressed by the minister of investments and European Projects Cristian Ghinea in a press conference, but for others he admitted that he does not know the answer yet.

Hotnews.ro outlined three issues insufficiently explained by PNRR - related to the fiscal reforms: the hashing-off of excessive fiscal allowances; the taxation of properties and vehicles based on their emission; and the property taxation. All these are aimed at boosting the budget revenues.

Minister Ghinea explained that the preferential taxation regime for microenterprises (0%-2% tax on revenues) would be amended, and the preferential taxation in the sector of constructions will be phased out gradually.

The topic is of prime importance since both the European Commission and the rating agencies are closely monitoring the new Government’s fiscal policies. Under the excessive deficit procedure, Romania should bring its public deficit to under 3% of GDP from 9.8% of GDP in 2020.

Another question not answered by either PNRR or minister Ghinea is how GSP, a private company owned by local businessman Gabriel Comanescu, was picked up as the recipient of PNRR funds, G4media.ro reported. It is the only private company to receive PNRR funds.

(Photo: Octav Ganea/ Inquam Photos)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania’s Resilience Plan is published, but fails to answer key questions

Romania’s Government published the Relaunch and Resilience Plan (PNRR), a document that had previously been submitted to the European Commission for the approval of EUR 29.2 bln worth of grants and soft loans to be disbursed and spent by the end of 2026.

The 1,200-page document is still under scrutiny by experts, but some questions are still unanswered.

Some of them were addressed by the minister of investments and European Projects Cristian Ghinea in a press conference, but for others he admitted that he does not know the answer yet.

Hotnews.ro outlined three issues insufficiently explained by PNRR - related to the fiscal reforms: the hashing-off of excessive fiscal allowances; the taxation of properties and vehicles based on their emission; and the property taxation. All these are aimed at boosting the budget revenues.

Minister Ghinea explained that the preferential taxation regime for microenterprises (0%-2% tax on revenues) would be amended, and the preferential taxation in the sector of constructions will be phased out gradually.

The topic is of prime importance since both the European Commission and the rating agencies are closely monitoring the new Government’s fiscal policies. Under the excessive deficit procedure, Romania should bring its public deficit to under 3% of GDP from 9.8% of GDP in 2020.

Another question not answered by either PNRR or minister Ghinea is how GSP, a private company owned by local businessman Gabriel Comanescu, was picked up as the recipient of PNRR funds, G4media.ro reported. It is the only private company to receive PNRR funds.

(Photo: Octav Ganea/ Inquam Photos)

andrei@romania-insider.com

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