Vosganian: Romania's economic growth to continue in 2008

Minister of Economy and Finances, Varujan Vosganian, has recently declared that Romania would continue economic growth in 2008, which started in 2006, according to Rompres.

Provided that no droughts would have been last year, an economic growth of 8 per cent would have been registered. "Even considering drought, there was a significant economic growth. 2006 and 2007 were the years when an economic growth without precedent was registered, and 2008 will round the golden chain of these very important years for the Romanian economy. In spite of discussing on worldwide economic stability and oil price, as well as natural gas price, advancing, the Government has to limit the degree up to which people are able to handle these", Varujan Vosganian said.

Pension raise in 2009 achievable

At the same time, Minister of Economy, Varujan Vosganian, declared, on Saturday, in Vaslui, that he did not see any difficulties in relation to the provision of the revenues needed to raise pensions in 2009, according to Rompres correspondent.

Vosganian came with this specification after mass media having indicated that, within a discussion with President Traian Basescu, Minister of Economy and Finances would have expressed his concern as to the funds needed for increasing pensions during next year. Vosganian has also specified, recently, in a TV broadcasting, that the payment of pensions in 2009 requires a transfer from the state budget to social insurance budget worth EUR 1.5 bln.

"Thinking that budgetary expenditures, at the overall budget level, are expected to reach EUR 62 bln. in 2009, I believe that EUR 1 bln for paying pensions and for putting an end to the severe poverty among pensioners is worthwhile. In 2009, we shall not pay pensions from the pension budget but we shall make a transfer worth EUR 1.5 bln. from the state budget. It has never been said that we could not pay pensions in 2008 or in 2009", Vosganian added.

Transportation Minister, Ludovic Orban, informed, in an interview provided by HotNews.ro - BBC, that the pension fund has to be subsidized from the budget in 2009. "The proceeds to be collected from the social insurance contributions paid by taxpayers will have to be increased by a subsidy, which, nevertheless, at this moment, is not clearly defined, it is amount an amount, it is between a lowest value and a maximum one", Orban said. He added that there were calculations done by Minister of Labour and Minister of Finances.

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