Romanian Leader Pledges More Budget Measures to Curb Deficit

Romania’s premier outlined fresh measures to cut the ballooning budget deficit as the new government seeks to safeguard the country’s investment-grade rating and ease investor concern.

The Black Sea nation plans to raise dividend and property taxes from next year, as well as put more emphasis on the performance of state-owned companies, according to Prime Minister Ilie Bolojan. These steps will be in addition to previously announced moves, including a temporary levy on “excessive” bank profits, higher excise duties and ending some exemptions to value-added tax.