EXCLUSIVE: Romania To Reduce Social Aid Spending In Next Two Years

The Romanian Labor Ministry is to lower its spending on social welfare over the next two years, from 2.74% of gross domestic product this year, to 2.30% of GDP in 2012, according to the Government’s three-year fiscal strategy, approved Wednesday.

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The Labor Ministry's social aid expenses are seen at 14,005 million lei (EUR1=RON4.2394), or 2.74% of GDP, this year.

Over the next two years, welfare expenses are expected to drop and are seen at RON13,383 million (2.46% of GDP) in 2011 and RON13,795 million (2.30% of GDP) in 2012.

The Government's fiscal strategy estimates a slight increase in welfare spending in 2013, to RON14,221 million (2.16% of GDP).

The Labor Ministry's total expenses are seen at RON28,467 million this year, or 5.56% of GDP. For 2011, expenses are estimated at RON33,348 million (6.13% of GDP), RON34,701 million (5.79% of GDP) in 2012 and at RON35,497 million (5.38% of GDP) in 2013.

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