ROMANIA RETAIL SNAPSHOT Q4 2016

The retail sales recorded a 14.3% increase in January – November 2016, compared to the first 11 months of previous year, being boosted by tax reductions (the general VAT was reduced from 24% to 20%) and a consistent increase of salaries. In November 2016, the average net salary in Romania was 13.2% higher when compared to November 2015. The purchasing power was also supported by the stability of prices, since inflation was slightly negative during 2016, reaching a -0.5% level at the end of November.