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BNR Governor Mugur Isarescu: Impact of fee increases on inflation, limited at 0.2 percent

The fee increases announced for next year will have a limited effect on inflation, accounting for 0.2 percent, according to the assessments of the National Bank of Romania (BNR), BNR Governor Mugur Isarescu said on Tuesday.

'According to our preliminary data and to some first evaluations, the impact is limited at 0.2 percent and the chain consequences are limited. We shall probably change only the balance of risks, from a balanced one to a slightly superior, slightly increasing one,' Mugur Isarescu said, when asked about the effect of the fee increases.

The Governor pointed out he did not see an avalanche of chain price enhancements following the implementing of the announced measures.

Among the measures for increasing the budget revenues next year, the authorities announced, following the negotiations with the International Monetary Fund (IMF), the indexation of the excises with the inflation rate, the introduction of an additional excise of 7 cents per fuel litre and the taxation of some special constructions held by legal persons. Such constructions are the transport networks, pillars, warehouses or storage rooms.

The National Bank of Romania on Tuesday reduced the monetary policy rate to 4 percent, the decision of the Board going to come into force starting November 6, 2013.