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Decision on wages, pensions rise to be made after analysis with IMF, European Commission

We are going to make a decision on the rise in public sector wages and pensions in 2012 after an analysis that the Government will make with the International Monetary Fund and the European Commission, Public Finances Minister Gheorghe Ialomitianu said at the end of a meeting of the ruling Democratic Liberal Party's (PDL) National Standing Bureau on Monday.

The minister stressed that the decision to revise the economic growth would most likely be made, with such measure to be adopted in the rest of the European Union states as well.

'We are looking into the financial situation and when the IMF mission comes, we'll make a decision. The financial prospects were different before the (IMF) mission that visited Romania in July and August. All the EU countries are making economic growth revisions now, I think Romania too will have to make a revision of its economic growth and then we'll see what fiscal room we have for the 2012 budget expenditure', he said.

Ialomitianu underscored that the 2012 budget deficit will not be negotiated, as it must be below 3 percent.'We must not jeopardise the investment expenditure, since Romania's only chance to overcome this period is represented by investments. We must also think of the private sector employees, given that a state budget investment has influence on the economic sector. Depending on the fiscal room that we have, we'll make a decision about recouping the spending from wages and other expenditure, but we do not put at risk the investment expenditure and the budget deficit target, because we must get out of the budget deficit procedure', said the finances minister, who reminded that such measures are being taken because money in 2008 had been improperly spent, leading to 5 percent deficit.

Sursa: http://www.actmedia.eu

Tags: budget european wages decision

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