Romania Can’t Afford Lower Social Security Taxes - President

Romanian President Traian Basescu Thursday said the economy can’t afford lower social security contributions until tax collections improve.

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Speaking at a seminar organized by financial daily Ziarul Financiar, Basescu said economic operators must first pay their dues before the social security tax can be reduced by at least 2%.

The government budget can't afford to deepen existing imbalances by reducing the taxes, he added.

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