From August 1, new VAT rates and higher excise duties will lead to price hikes in all sectors, including fuel.
Adrian Rusu
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Economy
Foto: shutterstock.com/ro
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As of August 1, Romania will apply new VAT rates of 11% for essential food and services and 21% for non-food goods, which will lead to higher prices. For example, a 100 lei product will cost 2 lei more. The Competition Council will monitor prices to prevent speculation. The increases will also affect fuel, with prices estimated at 7.4 lei for gasoline and 7.8-7.9 lei for diesel. The NBR warns of a rise in inflation, estimating a 9% rate by the end of the year, influenced by new tax measures.
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