The VAT could increase to 24%, people from the government say

“As pensions can no longer be cut by 15 percent following CCR’s decision and the recalculation will only include nine or ten thousands of pensions, the government has to come up with another way to get about 1 billion euros,” said the same sources, adding the increase of VAT, to 24 percent most probably, is one of the measures considered.

However, the VAT could not be hiked for food and clothing. Also, the Executive does not plan to increase the flat tax, at least for now.

CCR decided on Friday the article reducing all pensions by 15 percent is unconstitutional, next the one foreseeing the recalculation of magistrates’ pensions, but that slashing the salaries of public employees by 25 percent does not break the Constitution.

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