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Romania has a credit line of EUR 20 B, of which EUR 12 B come from IMF. File Photo
The International Monetary Fund (IMF) had proposed an increase of VAT and the flat tax to Bulgaria's northern neighbor, Romania.
The information was reported Tuesday by the Bulgarian news agency BTA, citing Romanian newspaper publications, which, on their part, quote unnamed sources from the Romanian cabinet.
According to the reports, IMF have proposed to the country to up the Value Added Tax (VAT) from the current 19% to 24% and the flat tax from 16% to 20%, which would help Romania fit in the agreed fiscal frame in order to continue receiving IMF funds.
Romania has a credit line of EUR 20 B, of which EUR 12 B come from IMF.
The Romanian media further report IMF are “unwavering and want the VAT increase NOW.” An IMF mission is visiting Romania and will stay in the country until May 7.
Just recently the Romanian cabinet vowed to not “touch” VAT.
The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the ongoing war in the Middle East is expected to push inflation higher while simultaneously slowing global economic growth
Representatives of the hotel and restaurant sector in Bulgaria are calling for a reduced VAT rate of 9%, arguing that rising fuel prices are putting serious pressure on their businesses.
Romania’s Ministry of National Defense has confirmed that a military drone crossed into Romanian airspace and later crashed, after being diverted during Ukrainian air defense activity
The Romanian government is set to introduce an emergency ordinance declaring a crisis on the oil and petroleum products market, alongside a package of measures aimed at shielding both the economy and consumers.
NATO Secretary General Mark Rutte has stated that the alliance is prepared to defend Romania in the event of any threat linked to Iran. His remarks came after talks in Brussels with Romanian President Nicușor Dan
Iran has issued a warning to Romania, stating that it will take political and legal action if the country permits the United States to operate military bases on its territory for operations targeting Iran
The Ministry of Finance has released a broad public dataset covering more than 7,000 public procurement contracts with a combined value exceeding 30 billion euros
Caretaker Finance Minister Georgi Klisurski said he expects fuel prices at gas stations to ease in the coming period, pointing to a sharp decline in international oil markets
Bulgaria’s new government borrowing for 2026 has surpassed the 1 billion euro mark following the latest successful auction of state securities, according to data cited from the Bulgarian National Bank
Bulgaria recorded only a modest and one-off increase in inflation following the adoption of the euro on January 1, with the effect estimated at between 0.3 and 0.4 percentage points
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
In the 2026 edition of the Index of Economic Freedom, compiled by the Heritage Foundation, Bulgaria is placed 38th out of 176 countries, positioned between Costa Rica and Oman
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