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Vladescu: Higher taxes if the economic contraction exceeds 2%

If the Romanian economy will remain at current 0% or -1% level, a tax hike wouldn't be necessary, but an economic contraction above 2% would impose new measures, said the minister of finance, Sebastian Vladescu.

He expressed confidence in the country's ability to achieve a modest growth rate next year.

'If the economic recession in Romania persists, and the economic growth stays flat or -1%, we will not have to take new measures, but if the economic contraction deepens, we will have to make additional cuts in public spending. As far as I am concerned, I think that Romania will see a near-flat economic growth', Vladescu told The Money Channel.

For the first time, he said he hopes to keep his position in the Government after the motion of non-confidence is voted in the Parliament. 'It is the first time in my life I dare to say that I hope I will still be here next week tool. And not for my sake', said Vladescu. The minister said that if the public wage cut law would be deemed as a violation of the constitutional law, he would not quit, but seek other solutions to cover the budget deficit.

'Nobody is irreplaceable, and I am very easy to replace, because I am not a political person. I will not resign even if the Constitutional Court decides these laws are not constitutional, but seek new solutions', Vladescu pointed out.He added that apart from pension and public wage cut, the Government will put in place a set of measures aimed at restoring confidence in the Romanian economy, including a guarantee scheme for European funds, the revision of state aid system, and the possibility to allow guaranteeing of loans taken for the development of structural funds projects.

Budget-paid salaries' adjustment to last by 2015

The adjustment process of the budget payment system will end in 2015, Finance Minister Sebastian Vladescu told the Money Channel TV, late on Thursday.FinMin Vladescu specified that the law on uniform pay in the budgetary system was a first step in this adjustment process, that laid the base, but a sequel of laws on payment are to come next, so that eventually a ratio should be reached between the lowest and the highest base salary, ranging between 1 and 12, instead of 1 and 15, in the budget-paid sector, as Law 339/2009 stipulates.

The budget payment system has many errors. During the times, everybody most highly influential, made efforts to increase the salaries, and then other groupings did the same. What we have to do now is to adjust the system, ' Minister Vladescu explained, adding that the incentive system will disappear next year.

According to the Romanian Finance Ministry, through the new regulations, the switch from the current salary system to the new one, will not drop the gross salary of the budget-paid employees, either in 2010 and or during the period while the law is enacted.At the same time, the basic salaries and the military payments for the base posts, that were lower than 705 lei a month, on Dec 31, 2009, went up starting Jan 1, 2010.

Sursa: http://www.actmedia.eu

Tags: system budget contraction economic vladescu

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