about us | newsletter | contact | archive | members area
Gabriel Pantelimon, Xerox
Romania has also become known for its high quality human resources»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Public wages raise was agreed by IMF

2012-05-08 13:39:36

Within the last week’s IMF meeting with local Government, Romania has sealed an agreement with international lenders to restore public wages to their previous levels, a senior official said, as part of the government's efforts to ease an unpopular austerity program, also stated by Reuters. The fund’s representatives stated that Romania has some space to ease austerity, which included a 25 percent cut in public sector salaries in 2010. Some have since been restored. The current proposed minister of finances,  Florin Georgescu, stated that "Practically, the accord (with the IMF) has been negotiated and concluded successfully." Georgescu stated that salaries will rise by an initial 8 percent from June and will then be brought back to their pre-austerity level, Georgescu said, which implies a total increase of about 15 percent from current levels. The second wages raise will be established after the July’s IMF meeting in Romania and it may occur late this year. Though, according to Government sources, the raise  may not be applied to each budget sector, as some of these sectors might see a stagnation  regarding the salaries.

Photo credit



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  9319 Views
Daily Info
President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, in ...

Vodafone to lay off 1,700 service center employees in Romania, India and Egypt

Vodafone, one of the biggest telecom groups in the world, will lay off 1,700 employees from its service centers in Romania, India and Egypt, in this financial year, the group'...

European Property Federation elects Liviu Tudor as new President

The European Property Federation Managing Committee elected Liviu Tudor, CEO of Genesis Property and President of the Romanian Association of Building Owners, as President of ...

Commisioner Cretu: Romania has a high level of women representation in the digital sector

Romania is one of the countries of the European Union with a high level of representation of women in the digital sector, said European Commissioner for Regional Policy, Corin...

Romania gets 450 million Euro loan from EIB for rural development programme

The European Investment Bank (EIB) is lending 450 million Euro to Romania to finance its national contribution to the implementation of the Romanian Rural Development Programm...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Ambassador Klemm: Women are directly affected by digital exclusion

Women are directly affected by digital exclusion, US Ambassador to Bucharest Hans Klemm said Monday at the opening of the Digital Romania International Forum.

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, ...

President Iohannis to hold CSAT meeting on September 4 for budget revision

Romanian president Klaus Iohannis has summoned on September 4 the members of the Supreme Council of National Defence (CSAT) to approve the budget revisions for institutions...

1 Comment

New Government reshuffle in Romania to take place in October

A new reshuffle of the Government is supposed to take place in early October, according to the Socialist-Democrat Party (PSD) Liviu Dragnea. He said that, together with the...

Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

1 Comment

International Business Forum stimulates Romanian entrepreneurs to expand abroad

The Ministry of Business, Commerce and Entrepreneurship organized an International Business Forum on August 30 and 31 at the Parliament Palace, with over 800 participants. ...

Startup co-founded by Romanian to turn unicorn

Branch, a deep linking startup in the U.S. co-founded by Romanian Madalina Seghete, will reach a valuation of 1 billion USD after a 129 million USD financing round, accordi...