Romanian Govt Ups Budget Allowances For Performance, Mandate Contracts

Budget allocations for mandate or performance contracts concluded by companies under the Ministry of Transport were increased by the Government through the budget revision. Some of the largest sums went to the units Romatsa and the Auto Registry.

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The annual budgets were revised in the Government meeting held last week and were published in the Official Gazette. The new values are justified in the explanatory note of the normative act through the provisions of Government Emergency Ordinance 79/2008 on economic-financial measures for economic operators, approved by the Executive in June, and which mentions that the general managers and managers will provide leadership for state-owned companies based on a mandate contract that aims to accomplish certain objectives and performance criteria approved by shareholders.

The introduction of the contract cancels the principle according to which the salary of the manager is equal to that of a secretary of state plus a sum equal to 50% of the salary, consisting of bonuses, benefits and other salary rights.

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