PM Ciuca announces fuel subsidy scrapped as of Jan 1

Prime Minister Nicolae Ciuca announced on Wednesday that the government will no longer extend the fuel price subsidy of 0.5 RON per litre, but is ready to apply it again should "price developments be such that the citizens' purchasing power is exceeded."

"Whereas initially the measure didn't seem to produce effects, at the end of the year we can see that it was a good measure, as fuel prices reached levels previous to the enforcement of the measure. And we must announce that starting with January 1 the measure will no longer be in effect," Ciuca said before the government meeting, Agerpres informs.

He added that, if necessary, the Executive is ready to reintroduce the subsidy should "price developments be such that the citizens' purchasing power is exceeded."