RRI Live!

Listen to Radio Romania International Live

Economic Measures

The Senate passed a law slashing social insurance contributions paid by employers by 5%.

Economic Measures
Economic Measures

, 25.06.2014, 13:45

The Romanian Senate passed by a wide margin a bill cutting 5% off of social insurance payments by employers. If the draft law passes the lower chamber, it goes into a special plenary meeting in early July, to come into effect on October 1st. The government, which introduced the bill, said it is meant as an incentive for employers to create jobs. In a rare occurrence in Romania, both the parties in power and the opposition supported the move, but trade unions claimed that the economy cannot cope with it. Dumitru Costin, head of the National Trade Union Bloc, said that the social insurance budget would take a heavy hit:



Dumitru Costin: “The present economic model in Romania cannot support this five percent slash in social insurance revenue, as the Romanian government plans, and the measure will not motivate employers and employees to come out of the informal economy. We should have a huge number of officially employed people, something like eight million, in order to make this work. I cannot believe that over two million more jobs would emerge overnight in the Romanian economy.”



The IMF also expressed skepticism in relation to the move. Spokesperson Gerry Rice said that there would be an impact on the 2015 budget, which should be calculated. The vice-chairman of the European Investment Bank, Mihai Tanasescu, said that the move has to be accompanied by restructuring:



Mihai Tanasescu: “Such a measure has to be accompanied by large-scale restructuring of the Fiscal Administration, in order to improve collection and priorities, so that the volume of investments may rise.”

Maia Sandu (Photo: presedinte.md)
Today in the News Monday, 04 November 2024

Moldova stays on path to Europe

Moldova’s pro-European president Maia Sandu won a new  4-year term in Sunday’s second round run-off, with over 55% of the votes cast in the...

Moldova stays on path to Europe
The head of the Permanent Electoral Authority (AEP), Toni Grebla
Today in the News Monday, 04 November 2024

Election campaigns in Romania

    The campaign for the general election in Romania started last week, at midnight on Thursday, and will end on 30 November. During this...

Election campaigns in Romania
November 1 - National Radio Day
Today in the News Friday, 01 November 2024

Radio Romania 96

Radio Romania has celebrated 96 years since it first entered the listeners houses from Romania and abroad. On November 1 1928 the Romanians were able...

Radio Romania 96
(Photo: pixabay@Engin_Akyurt)
Today in the News Thursday, 31 October 2024

Romanians’ concerns

Romanians and Austrians are the most satisfied with their lives among the inhabitants of Central and Eastern Europe, but the former are significantly...

Romanians’ concerns
Today in the News Thursday, 31 October 2024

Republic of Moldova, crucial final

On November 3, the citizens of the Republic of Moldova have to choose, for the position of head of state, between the pro-European Maia Sandu, the...

Republic of Moldova, crucial final
Today in the News Wednesday, 30 October 2024

Drones, a security issue

The Romanian Ministry of National Defense has placed under decisional transparency a bill that improves airspace security measures. The bill, which...

Drones, a security issue
Today in the News Wednesday, 30 October 2024

The Fugitive Law is constitutional

The Constitutional Court of Romania (CCR) has rejected the referral of the High Court of Cassation and Justice (ICCJ) in relation to the so-called...

The Fugitive Law is constitutional
Today in the News Tuesday, 29 October 2024

Challenges of an ageing population

Romanians are getting fewer and older.   The population of Romania in mid-2024 was 21,779,000, down 1% compared to June 1, 2023. According to...

Challenges of an ageing population

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company