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Articles - business environment

Bucharest, lowest prices among 71 cities worldwide

Bucharest ranks 69th among 71 cities in a top based on the price level, except for rents.

Romanian entrepreneurs score profits, multinationals record losses

Multinationals recorded a profit balance (cumulated profits minus cumulated losses) of RON 2.5 billion (EUR 564 million) in Romania, between 2008 and 2014, whereas companies controlled by local entrepreneurs made RON 55 billion (EUR 12.4 billion) in the same period.

Romania, second largest increase in labor costs in the EU

Latvia, Romania, and Bulgaria registered the largest increases in labor costs among the EU member states in the second quarter of 2015 compared to the same period last year.

Study: Firms in Romania have the most optimistic provision about employment in Q4

One out of four employers in Romania intends to attract personnel in the company in the last quarter of the year, Romanian employers reporting a net employment provision of +16%, the most optimistic of 25 countries and the best since Q4 2008 to the present, a Manpower study shows.

Romania to reach Germany’s hourly salary in 30 years

The hourly cost per employee amounts to EUR 4.6 in Romania, compared to an hourly cost of EUR 31.4 in Germany. It will take at least 30 years for a Romanian employee to reach the current salary level of an employee in Germany, according to Ziarul Financiar’s estimations based on the average salary growth in Romania over the past 15 years.

The new Romanian Fiscal Code published in the Official Gazette

The new Fiscal Code published in the Official Gazette includes the reduction of the general quota of VAT from 24% to 20% starting with next year, the application of a special quota of 5% for books, textbooks, newspapers, magazines, sporting events, cultural events, as well as a series of tax increases, such as the tax on houses owned by natural persons but used for commercial purposes

Romanian PM: Govt. wants to raise minimum wage three times by 2017

The Government plans to raise the minimum wage in three steps next year so that it reaches RON 1,400 (EUR 316) by January 2017, said Prime Minister Victor Ponta. The incremental increases are easier to absorb both by the private and the public sector, Ponta added.

Romanian businesses jump up one spot in Deloitte Central Europe Top 500

The largest Romanian companies present in Deloitte Central Europe Top 500 saw a median annual revenue growth of 5.3 percent compared to the regional rate of just 0.3 percent, shows data from the latest Deloitte study.

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