Romanian Govt To Cut Workforce Costs At Optimum Time, Keep VAT At 2011 Level - PM

The Romanian Government will analyze the feasibility of reducing workforce costs only after it makes sure the country achieved macroeconomic stability, Prime Minister Emil Boc said Tuesday.

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Speaking at a conference on economic matters, the prime minister said the value added tax and social security contributions in 2012 will be kept at this year's level to ensure economic stability.

Boc told unions and employers recently the Government is looking into eliminating the income tax for people who earn between 700 lei () and 1,000 lei ().

People close to the matter told MEDIAFAX at that time that eliminating the income tax for people on low wages is one of the measures analyzed by authorities, but no calendar to apply it was set.

In August, Finance Minister Gheorghe Ialomitianu said the Government decided to put off the reduction of social security contributions paid by employers, as the measure was not feasible at that time.

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