Romania Meets 9-Mo Fiscal Targets, IMF Delegation To Discuss Pension Bill – IMF Official

Romania has met its main nine month fiscal targets, and the International Monetary Fund delegation, coming to Bucharest in October for a new evaluation of the agreement, will assess the impact of sending the pension bill back to Parliament, said Romania's representative to the IMF, Mihai Tanasescu.

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Tanasescu said the IMF delegation will reanalyze the pension bill's fiscal effects, in case the Parliament approves an amended version.

On Thursday, Romanian President Traian Basescu said he will send the public sector unitary pension bill back to the Parliament, requesting that the standard retirement age be set at 63 for women. The bill as adopted by the legislature provided 65 as the retirement age for both genders.

Tanasescu said, sooner or later, Romania will have to adhere to the norms on the retirement age set by the European Union, which is equal for men and women - 65 years. As for its fiscal targets, Romania has met the budget deficit goal agreed upon with the IMF for the first nine months, and the state has paid the arrears of its public hospitals.

Romania and the International Monetary Fund agreed on a budget deficit target of 6.8% of GDP in 2010 and of 4.4% of GDP next year.

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