Romania To Implement Labor Market Measures This Fall, As Per IMF Agreement – Union Leader

Dumitru Costin, head of the Romanian National Union Bloc (BNS), said Friday, after meeting with the International Monetary Fund delegation, that a measure package targeting the Romanian labor market will be implemented this fall, part of an agreement with the IMF and European Commission.

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Costin said the package comprises coherent measures to reduce problems with employment and of vulnerable social categories, like young people, people older than 45, people with disabilities and minorities.

The union leader said Romania might receive additional financing from international bodies for this program. A foreign team will visit Romania three months from now to analyze this topic.

According to Costin, the IMF officials consider this program atypical, as the IMF board has asked a mission to work not only on macroeconomic issues, but also on Romania's labor market, which is extremely vulnerable.

A joint mission of the IMF, European Commission and World Bank is in Bucharest as of Wednesday for the second evaluation of a precautionary loan agreement. The mission will assess Romania's implementation of reforms in the first half of the year and present its conclusions in a press conference on August 1.

The foreign officials met Friday with union representatives.

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