Romania adopts ‘greed tax’ despite investor concerns

23 December, 2018 12:00 AM printer

BUCHAREST: Romania’s left-wing government on Friday issued a controversial emergency ordinance imposing new taxes on banks and energy companies, despite an outcry from investors.

The package of taxes and price caps sparked a big sell-off on the Bucharest stock market on Wednesday, following a government announcement, although the measures adopted on Friday were less strict than the original proposals, reports AFP.

“We are adopting a new set of measures to increase the well-being of Romanians, the level of investment and to correct some unfair practices in the energy and banking sectors”, Prime Minister Viorica Dancila said at a cabinet meeting on Friday evening which pushed the measures through.