ROMANIA Romania is currently in a deep recession that is expected to last into 2010, and even so, the nation’s economy is unlikely to return to its recent lofty growth rates in the near term, the long-term prospects remain good, according to a new Moody’s report on Romania, cited by …

NETHERLANDS The Dutch government has dealt another blow to the new EU member states Bulgaria and Romania, saying they are still doing too little to tackle corruption and organized crime, and their management of EU funds is still below par. The conclusions were announced on Wednesday in response to the …

BULGARIA Simeon Dyankov, Bulgaria’s Finance Minister and Deputy Prime Minister, says that the flat income tax rate will stay unchanged, while Value-Added Tax (VAT) could be cut from the current 20 per cent to 18 per cent in 2010 and by a further two per cent by the end of …