IMF: Romania salary expenditure to be cut down to 2005 levelsPublish date: 31-08-2010
The salary expenditure in the Romanian public sector will be cut in 2011 down to the 2005 levels of 7.4 percent of gross domestic product, the International Monetary Fund (IMF) representative in Romania Tonny Lybek said at the Palace of Parliament on Tuesday.
He stressed the Romanian economic programme is backed by the IMF, the European Commission, the World Bank and other international financial institutions and expectations show Romania will enact the commitments made.
According to the commitments made by Romania to the international partners, the country's expenditure on pensions and other social aid should drop to 12.8 percent of GDP in 2011 down from 13.4 percent of GDP this year and 13 percent in 2009.
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