Romanian Cos Delay Paying Taxes On Liquidity Shortage - Fin Min
Publish date: 05-11-2008Companies in Romania have liquidity problems, as banks cut their credit lines, and postponed paying their taxes, causing losses of 1.5 billion lei (EUR1=RON3.6838) to the state budget, Economy and Finance Minister Varujan Vosganian said Tuesday.
"We have difficulties in collecting taxes since mid-October, as the banks reduced their credit lines, this problem causing losses of RON1.5 billion," Vosganian said during a round table meeting organized by "Ziarul Financiar" daily.
Raiffeisen Bank president Steven van Groningen said banks are more cautious in granting loans, due to the ongoing international financial turmoil.
According to van Groningen, Romania is now seen as a riskier country, and this leads to higher lending costs.
"Ziarul Financiar" organized Tuesday a round table and invited for talks the leaders of the main political parties and the representatives of the main local companies to discuss about Romania's business agenda for the next four years.
Mediafax
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei