Romania’s retail trade turnover accelerates growth after VAT rate cut on food

modern retail

Romania’s retail trade turnover increased by 4.8% in the first half of the year, compared to the same period in 2014. The sector’s growth was due to the increase in the sales of food, beverages and tobacco by 11.5% and the 5.8% increase in fuel sales.

In June, the retail trade’s turnover went up by 7.9%, as sales of food, beverages and tobacco rose by 22% and fuel sales increased by 1.3%.

Starting June, the state has reduced the VAT rate on food and non-alcoholic beverages from 24% to 9%. This could account for the increase in food and beverage sales.

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