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Romanian Govt, IMF in negotiations to raise min wage to RON 700

Romania's Government is in negotiations with the International Monetary Fund (IMF) to raise the gross minimum wage to 700 lei (EUR160) from RON670, said Finance Minister Gheorghe Ialomitianu on Friday.The minister said talks on this matter will be held with employers' organizations.

Last year, the Government decided to raise the minimum wage from RON600 to RON670, also following negotiations with the IMF. Prime Minister Emil Boc explained at the time that the raise covered the inflation's advance in 2009 and 2010.

Romanian Fiscal Council: Special Pensions Increased By 30% After Recalculation

The average monthly pension paid to the 159,000 Romanian former military staff and police officers increased over 30% after recalculation, to 2,289 lei (EUR525) from RON1,755, although the Labor Ministry expected it will decrease, the Fiscal Council said Friday.

According to the Council, recalculating special pensions for 159.000 retired military staff and police officers increased pension expenses by about RON1 billion per year.Following recalculation, average monthly special pension increased from RON1,755 (the level used to set the social security budget for 2011) to RON2,289 in 2012 (which translates into an average increase of 30.4%), said the Council.

According to the explanatory note of the draft 2012 social security budget, when determining the funds needed to pay pensions, authorities considered 4.76 million pensioners paid through the National Public Pension House, with an average monthly pension of RON747, and 159,000 pensioners paid through the Defense Ministry, the Interior Ministry and the Romanian Intelligence Service, with an average monthly pension of RON2,289.The funds earmarked to pay public system pensions in 2012 amount to RON47.07billion, or 8.1% of the gross domestic product.

The Fiscal Council is an independent authority, made up of five members specializing in macroeconomic policies.(EUR1=RON4.3620)

Sursa: http://www.actmedia.eu

Tags: average pension council raise negotiations romanian

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