Romania’s Prime Minister Victor Ponta said that the Finance Ministry is currently negotiating with international partners the formula to calculate excises next year and that excises will be lower compared to the 2014 level.

“They are working at the Finance Ministry, together with our international partners, with the European Commission. We’ll let you know. For sure, they will be lower,” said Ponta.

The exchange rate EUR/RON announced by the European Central Bank (ECB) at the end of September 2014, which should be used to calculate excises, is lower than compared to end of September 2013.

However, the Government has used an even higher rate to calculate excises for this year, a rate from September 2012.

editor@romania-insider.com