Romanian PM takes over as Finance Minister to have new Fiscal Code approved

Romanian Prime Minister Victor Ponta took over as acting Finance Minister on Friday after President Klaus Iohannis accepted former Finance Minister Darius Valcov’s resignation. Ponta will only hold this interim until Wednesday, when he plans to have the Fiscal Code project approved in the Government meeting. After that, he will propose a new person to take this position, he wrote on Twitter. Former Finance Minister Darius Valcov resigned afterthe National Anticorruption Directorate prosecuted him for bribery and influence peddling during his mandate as mayor of Slatina. Last week, the prosecutors asked for the Senate’s approval to arrest Valcov in this case. PM Ponta, who wanted to keep Valcov on board until the adoption of the Fiscal Code, had to let him go.The new Fiscal Code includes several tax cuts, including lower VAT and lower excise duties. editor@romania-insider.com