The fiscal package shows its first effects, announces the Ministry of Finance. State loan costs decrease
Alexandru Nazare. Inquam Photos / Octav Ganea
The first effects of the fiscal package proposed by the Bolojan Government can be seen on the financial markets, the loan costs for Romania are decreasing, according to a post on the Facebook page of the Ministry of Finance, informs Agerpres.
“The first effects of the fiscal package proposed by the Bolojan Guven: decrease the loan costs. ROBOR below 7% for the first time after the presidential. Good news on the financial markets for Romania! Compared to the end of Tuesday, July 1, Romania borrows cheaper by about 3 to 15 BPS (basic points – no), for the taxes, for the tax, in the posting MF.
According to the quoted source, the loan costs decreased significantly: in the securities in lei, the discounts were between -3 / -15 bps, with higher decreases at maturities over 4 years; At euro EuroBligations were recorded by -20 / -35 bps, and those over 5 years have descended even more; At dollars, the Euroobliges were decreases of -15 / -30 BPS. At the same time, ROBOR at 3 months returned below 7%, at 6.99% (the first time in May), says MF.
The taxes of taxes and taxes passed the government. The package with fiscal measures is going to go to Parliament. The calendar and the steps left until the entry into effect
“The announcement of the package of measures already has a significant impact in the markets. At today's auctions on the domestic market, I announced an amount of 800 million lei and had a demand of about 5 times, especially for the maturity longer than 9 years. The yields I issued are under the secondary market with about 5-10 BPS, under the conditions, in which I have about 3, Nazare, quoted in post.
Robor drops below 7%
The ROBOR index at three months, according to which the cost of consumer loans in lei with variable interest is calculated, decreased, on Friday, to 6.99% per year, from 7.04% per year in the previous meeting, according to the data published by the National Bank of Romania (BNR).
Earlier this year, the index was 5.92% per year, but began to increase from May 6, two days after the first round of the presidential elections, when it rose to 6.08% per year.
The conclusions of the meeting of Prime Minister Bolojan with the employers and unions / “Until autumn the purchasing power will decrease by up to 40%”
The six -month index, used in the calculation of interest on mortgage loans in lei with variable interest, went down to 7.09%per year, from 7.13%, in Thursday's meeting, and Robor to 12 months fell to 7.19%, from 7.25%.
The Ministry of Finance on Thursday published a draft law providing for some fiscal-budgetary measures, including the increase of the standard VAT rate from 19 to 21% and of the reduced quotas from 5% to 11%, increased excise, increase from 10% of dividend tax and additional tax for banks. The project also provides for increasing the taxation in the field of gambling but also the payment of the social contribution for pensions greater than 3000 lei, for the amount that exceeds this ceiling.
