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Romanian Govt Raises Unemployment Budget On Planned Job Cuts

The Government will raise expenses for unemployment aid this year by 1.1 billion lei (EUR1=RON4.2404) at this year’s first budget revision, expecting a higher number of jobless people than initially estimated when the budget was drafted.
Romanian Govt Raises Unemployment Budget On Planned Job Cuts
12 aug. 2010, 10:33, English

Romania’s unemployment budget will have 321.57 million less in revenues and RON1.1 billion in expenses, widening its deficit by RON1.48 billion, according to the budget revision draft act, obtained by MEDIAFAX.

The Government warns in the draft that economic difficulties will reflect onto the labor market and the number of employees will decrease by 1.8%. The Government considered a 0.9% increase in employment when it drafted this year’s budget.

Romania’s unemployment rate was virtually unchanged in July at 7.43%, from 7.44% in June, the country’s employment agency ANOFM said Wednesday. However, the jobless figures worsened compared with the year-earlier period. In July 2009, the unemployment rate was at 6.3%.

Over 70,000 people will remain jobless this year from the public sector alone.