{"id":236346,"date":"2005-10-05T09:15:00","date_gmt":"2005-10-05T09:15:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/10\/05\/current-fiscal-policy-can-generate-economic-crisis-specialists-5083-eng\/"},"modified":"2005-10-05T09:15:00","modified_gmt":"2005-10-05T09:15:00","slug":"current-fiscal-policy-can-generate-economic-crisis-specialists-5083-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/current-fiscal-policy-can-generate-economic-crisis-specialists-5083-eng\/","title":{"rendered":"Current fiscal policy can generate economic crisis \u2013 specialists"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Economic analysts forecast an economic crisis in the next 2-3 years if urgent measures to boost the economy are not taken. Expert Veaceslav Ionita, representative of IDIS “Viitorul”, a think tank, considers that the fiscal policy of the Government is defective. "Instead of taking measures to enhance the economy, the Government intends to introduce VAT on imported equipment and gear at a time when the industry experiences difficulties,” Ionita told a press conference. <\/p>\n

According to the analyst, the fiscal policy of the Ministry of Finance concerns mainly the increase in collections in the state budget without taking account of the probable consequences. Currently, the only source of income for the state budget as regards taxes is the Value Added Tax (VAT) which is expected to be of 5.5 billion lei or over 65 percent of the budget next year. The VAT and excises will account for 80 percent of the budget. A large part of the VAT comes from imports. Yet, the Government has plans to introduce VAT on the import of cars and equipment this year so that the economic agents would be compelled to pay a tax before getting profits from a business, Ionita told. <\/p>\n

On the other hand, “the share of the income tax paid by large economic agents is of 10 percent of the budget, while dark economy makes up over 40 percent in Moldova. Only 25 percent of the economically active population is working at present,” the source specified. <\/p>\n

Deputy Minister of Finance Mihai Pop has previously stated that the rise in fiscal rates will contribute to the collection of additional incomes in the budget, incomes valued at 139 million lei. \/\/ Reporter.MD<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>Economic analysts forecast an economic crisis in the next 2-3 years if urgent measures to boost the economy are not taken. Expert Veaceslav Ionita, representative of IDIS \u201cViitorul\u201d, a think tank, con<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-236346","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Economic analysts forecast an economic crisis in the next 2-3 years if urgent measures to boost the economy are not taken. Expert Veaceslav Ionita, representative of IDIS “Viitorul”, a think tank, considers that the fiscal policy of the Government is defective. "Instead of taking measures to enhance the economy, the Government intends to introduce VAT on imported equipment and gear at a time when the industry experiences difficulties,” Ionita told a press conference. <\/p>\n

According to the analyst, the fiscal policy of the Ministry of Finance concerns mainly the increase in collections in the state budget without taking account of the probable consequences. Currently, the only source of income for the state budget as regards taxes is the Value Added Tax (VAT) which is expected to be of 5.5 billion lei or over 65 percent of the budget next year. The VAT and excises will account for 80 percent of the budget. A large part of the VAT comes from imports. Yet, the Government has plans to introduce VAT on the import of cars and equipment this year so that the economic agents would be compelled to pay a tax before getting profits from a business, Ionita told. <\/p>\n

On the other hand, “the share of the income tax paid by large economic agents is of 10 percent of the budget, while dark economy makes up over 40 percent in Moldova. Only 25 percent of the economically active population is working at present,” the source specified. <\/p>\n

Deputy Minister of Finance Mihai Pop has previously stated that the rise in fiscal rates will contribute to the collection of additional incomes in the budget, incomes valued at 139 million lei. \/\/ Reporter.MD<\/p>\n

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