Romanian Govt Oks Pension Hike As Of Oct 1

 The Romanian Government decided Thursday to increase the value of the pension point by 20%, to 697.5 lei (EUR1=RON3.6897) from RON581.3 as of October 1, one month earlier than the initial date, people close to the matter told MEDIAFAX.

After a meeting with liberal Prime Minister Calin Tariceanu on Tuesday evening, social democrat leader Mircea Geoana said the Government agreed to move up pension hike to October 1, which determined the social democrats to give up their intention to move for a no-convidence vote to bring down the minority government.

Tariceanu said the Government decision is based on the economic growth results presented by finance and labor ministers.

The Government decided recently to increase the value of the pension point as of November 1, 2008, two months earlier than planned.

Tariceanu then said the pension point would be increased as of November by nearly 20%, to RON697.5 from RON581.3.

Mediafax