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IMF not accepting any scaling back the 2012 budget targets to increase public wages

The International Monetary Fund (IMF) does not accept any scaling back the 2012 aggregate budget targets in order to increase the public wages. IMF mission chief Jeffrey Franks on Thursday met Chairman of Romania's Fiscal Council Ionut Dumitru to exchange opinions on the implementation of the public budget in the first six months of 2011 and on the budget projects for the entire 2011 and for 2012.

Asked by journalists if the IMF accepts the idea of public wages being increased in 2012, Dumitru said, 'within the agreed targets.' The Romanian Government and the IMF agreed on a budget deficit of 3 percent of the Gross Domestic Product (GDP) and a staff spending ceiling of 7.1 percent of the GDP.

In summer 2010, the Government approved a package of austerity measures, including 25-percent cuts in public wages. From early 2011, public wages were increased by 15 percent, thus making up for a part of the 25-percebt cuts in 2010.

Government members have repeatedly said that the cuts could be fully restored in 2012, depending on the economic developments.

Sursa: http://www.actmedia.eu

Tags: public wages targets budget

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