Public economics

"Possible layoffs in public sector this year"

BELGRADE -- Government's Fiscal Council member Vladimir Vučković says layoffs could begin in the government sector this year in order to save EUR 400 million in the budget.

Employees of Bulgaria's National Railway Infrastructure Company are taking to the streets for a silent protest on Tuesday, demanding higher salaries.

They also want to express their support for colleagues bargaining over a new collective agreements on working terms, according to Bulgaria's NOVA TV.

BELGRADE - IMF mission released on Friday that no specific fiscal consolidation measures were proposed in the talks with Serbian government officials, stressing that the IMF holds that the measures to be adopted should be socially acceptable.

Police clash with anti-austerity protesters in Brussels

BRUSSELS -- Tens of thousands of people from across Europe gathered in Brussels on Friday to demonstrate against austerity measures.

Several clashes with the police occurred during the day.

Photos posted on Twitter show that the police used water cannons against the protesters.

By Prokopis Hatzinikolaou

The Eurozone will assign to Greece EUR 6.3 B that are part of its second bailout package, the Eurogroup's chief Jeroen Dijsselbloem announced Tuesday.

In Athens, the European Union and the International Monetary Fund agreed to unlock one of the last tranches Greece will get to save its debt-ridden economy.

The tax revenues in Bulgaria in the first two months of 2014 are by BGN 12 M less, compared to the same period of 2013. 

The main reason are the lower VAT revenues and the increased capital, social and health spending. The budget deficit for January and February 2014 is BGN 688 M. 

Compared to the same period in 2013, however, the deficit is by BGN 43.8 M smaller. 

Romanians are about to be hit by a series of price hikes, as new excise taxes on gasoline and cigarettes become effective this week on April 1.

The new fuel tax is set at seven cents a litre, meaning a price increase of 0.41 lei (0.09 euro) per litre of fuel, according to estimates.

 Trial bond issue will likely come after the European elections, while needs are covered up to May 2015

By Sotiris Nikas

Romanian Prime Minister Victor Ponta has said his centre-left government will not revoke a controversial fuel tax coming into force on April 1, but promised compensatory measures.

“The measure will help ‘fair' transporters, without a history of tax evasion, who will be able to recover most of the costs [of the new tax],” Ponta said, without offering further details.