The Impact of the VAT Decrease in Romania
Dec 03, 2015•3 min•Transcript available on Metacast Episode description
On June 1, the VAT was decreased in Romania for all food products, non-alcoholic drinks, foodservice and draught beer. After the VAT was decreased, domestic consumption consolidated, and lower retail prices left more money in consumer's pockets that was spent on higher quantities of food and other products. Romania's overall economy also benefited, as Hungarians continue to come into Romania for food shopping. Although the positive impact of the VAT decrease is easy to see in grocery retailers, non-grocery retailers have not yet benefited from it.
