Finance minister: Taxes would rise should Romania see a 2% economic drop

Romania’s Finance minister Sebastian Vladescu has said that should the Romanian economy stagnate or see an economic drop of up to 1%, tax increases would not be needed. But he warned that should the economy drop by more than 2%, another scenario would be taken into consideration.

He said at a business TV channel that he expected the economy to stagnate or report a slight increase next year. And Vladescu said that beside salary and pension cuts the Government plans other measures to revive the economy, including a scheme to guarantee the absorption of European funds, a review of the state support system.