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Romania's pension budget deficit reaches lei 1.52bn in June, over the whole year estimate

The pension budget deficit stood at 1.524 billion lei at the end of June, 177 million lei above the level scheduled for the entire year, according to the national pension office CNPAS.

Revenues from contributions amounted to 18.1977 billion lei and expenses with pension payments stood at 19.7213 billion lei.

The CNPAS spokeswoman, Angelica Mihail, mentioned that the final data will be delivered on July 25.

The national pension office alloted in June 3.38 billion lei for the payment of pensions and the pension budget deficit rose month-on-month by 277 million lei, over the monthly average between January and May of 250 million lei.

During the first five months CNPAS cashed in 15.089 billion lei and spent 16.336 billion lei.

According to the data supplied by the office, the deficit shot up in April, when pensions rose by about 3 percent, the deficit increasing by 521 million lei, to 848 million lei.

Mihail estimated that if the monthly average maintains, the deficit could be larger than 700 million euros by the end of the year.

Thus, the pension budget deficit could be at least twice larger than the social insurance budget deficit, estimated at 1.347 billion lei or 0.25 percent of the Gross Domestic Product.

The government promised to increase the pensions by another 2 percent in October, after why were raised by 3 percent in April.

 

Sursa: http://www.newsin.ro

Tags: pension deficit million billion budget

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