The income tax has increased about four times in Romania since 1950, according to data published by the National Institute of Statistics (INS). The evolution of gross and net earnings shows that we have reached a doubling compared to the period before the political regime change, which occurred in 1989 (see data presented in extenso and centralized by decades in the table below). More
Far from the public attention, the value of the assets held in the seven private funds that manage the pension money in Pillar II for seven and a half million future pensioners decreased dramatically in the second part of February and continued to decline during March, with the minimum being reached on the 18th of March 2020. More
Romania ranks fourth among EU Member States in terms of the share in gross value added (GVA) of enterprises with foreign capital (controlled from abroad) – FCE –, according to a study published by Eurostat, based on data from 2017. Although they represented only 1.3% of the total number of European companies, FCE generated 26% of GVA. More
Germany (16.6%), France (12.4%) and Italy (9.2%) are the countries that hold the largest share in the Romanian economy by the number of employees operating in 80,591 groups of enterprises, according to the data processed and published by the National Institute of Statistics (INS) for 2018. Together with the USA (8.3%) and the Netherlands (7.6%), they control most of the existing enterprise groups in Romania. More
The risk of poverty recorded in Romania for the entire population was higher in 2019 than in 2008, according to data published by Eurostat. Almost one in four Romanians (23.8%) had an equivalent level of disposable income less than 60% of the national median.It should be noted that this critical indicator for living standards had lower values during the crisis period 2009-2013 than after the return of economic results to the level of 2008 and has stabilized in the last three years at a level similar to that before the previous crisis. However, there were significant changes by age-groups. More
The macroeconomic situation of Romania is a subject of considerable debate inside the country. The important development of the country is, nevertheless, marred by imbalances and underwhelming reforms, constantly raising the specter of outsized impact of crises both internal and external. What follows is a selection of quotes from the Council Recommendation on the 2020 National Reform Programme of Romania and delivering a Council opinion on the 2020 Convergence Programme of Romania. The document was published on May 20th in 2020 and contains interesting tidbits, despite the Brussels language that may lead to readers’ eyes glazing over. More
