Cash transaction caps to stay in place, except for cash desk limit, advance for settlement

All the current limits for cash transactions will be kept in place for both individuals and legal entities, with two exceptions: the cash desk limit for companies will be RON 50,000, and the advance for settlement will be RON 1,000 per day, Prime Minister Marcel Ciolacu announced on Thursday, adding that the emergency ordinance on cash receipt and payment operations will be revised to this effect."Even if the underlying principles were correct, difficult situations occurred in real life. I spoke with representatives of the banking system, with small traders in the markets, with large entrepreneurs, but also with families who run micro-enterprises. The unanimous conclusion is that our economy is not yet ready to function with less cash, especially in rural areas, where ATMs are rare and people mostly use cash," Marcel Ciolacu told a government meeting on Thursday.The prime minister emphasized, however, that he wants all the loopholes for tax evasion in Romania to be closed."Without money we cannot have a strong health care system, a high-performing education system and highways like in the West," Ciolacu said.  În turn, National Liberal Party (PNL – junior partner în coalition) Chairman Nicolae Ciuca pointed out that he had asked for a clarification on the budget impact of the pension draft law, which is to be discussed at the Government meeting on Thursday, given that the figure of 55.6 billion lei put forward by Labour Minister Simona Bucura-Oprescu is different from that of the Ministry of Finance."We will definitely give an opinion, we all want, as we have pledged, through this law to eliminate disparities and inequalities and this way to balance the pension system in our country. There are many pensioners who have been waiting for this decision for many years, so we will clarify and the law will be adopted at the Government level," said Ciuca.Asked if the pension law will not receive an opinion from the Ministry of Finance until there is a clarification regarding the financing, Nicolae Ciuca answered: "Absolutely."On the fact that the Minister of Labour has promised a total 40% increase in pensions, after recalculation and indexation, the Liberal leader said that he does not want to come before the electorate with promises that are not financially backed up."We want to not have financially unsustainable promises in front of the electorate and people to really be able to feel this decision in a budget that will have the necessary collection to be able to finance the Ministry of Labour's envelope," explained Ciuca.