cuts

Romanian FM Cuts Utilities, Transport, Staff Spending Amid Austere Measures

16:18, 12 Iul. 2010
Romania’s Foreign Minister Teodor Baconschi on Monday said his ministry has already taken spending cut measures, which imply, among others, the renegotiation of rental contracts, a cut in utilities costs and the switch to low-cost flights and internet telephony.

Romanian Govt Ordinance Enforces 20% Food Expense Cut For Institutionalized Children, Prisons Exempt

16:56, 01 Iul. 2010
An emergency ordinance issued by Romania’s Government says that food funds for institutionalized children and people with disabilities will see a 20% cut, while the rations budget for prison inmates is exempt from the cut.

IMF Board Postpones Meeting On Loan Agreement With Romania

13:23, 26 Iun. 2010
The International Monetary Fund board meeting to analyze the stand-by agreement with Romania, initially scheduled for June 28, has been postponed as the IMF is evaluating the impact of the Constitutional Court’s ruling on the Government’s program of public spending cuts.

Romania Public Sector Staff, Retirees To Get Slashed Wages, Pensions As Of Aug – Fin Min

11:24, 17 Iun. 2010
Romania’s Finance Minister Sebastian Vladescu on Thursday said the 25% cut in public sector salaries and the 15% cut in pensions will be applied to salary and pension rights for July and people will receive reduced salaries and pensions as of August.

Romania Finance Min Says Differentiated Pension Cuts Entail Changes In Pension Point

16:05, 25 Mai 2010
Romania’s Finance Minister Sebastian Vladescu on Tuesday said that differentiated pensions cuts are not possible because this would imply changing the pension point, an indicator used to calculate pensions.

IMF Recommendations Focused On Increasing Romania’s Budget Revenue

13:34, 22 Mai 2010
In talks with Romanian authorities, the International Monetary Fund focused on increasing budget revenue by hiking the VAT and flat tax, as well as introducing progressive taxation, but certain difficult expense cuts would have been included in any scenario, says a Fund press release.

Romania’s Govt Estimates Pension, Wage Cuts Will Save RON10B

14:51, 13 Mai 2010
Romania’s Government estimates it will save RON5.39 billion in the second half of 2010, or 1.06% of the country’s GDP, due to the recently announced 25% public sector wage cut which come into force on June 1, says a document issued by the Finance Ministry.

Romania Slashes Child-Rearing Benefit From June 1 – PM Adviser

11:53, 11 Mai 2010
Romania’s Government will reduce child-rearing benefits starting June 1 and it will soon be decided whether the benefits will drop to a given percentage or a fixed sum, said Tuesday Andreea Paul-Vass, economic adviser to Prime Minister Emil Boc.

Problems In Romanian Judiciary, Public Administration Can Only Be Fixed By Spending Cuts – President

11:59, 14 Aug. 2009
Romanian president Traian Basescu said Friday that problems in the judicial system and public administration can only be solved by lowering expenses, adding the finance minister’s proposal to force people into ten days of unpaid leave is wrong.

Romanian Education Min Frowns At Teaching Staff Cut Proposition

14:31, 08 Apr. 2009
Romanian education minister Ecaterina Andronescu said Wednesday, after a meeting of the social democrat ministers with the party leaders, that she will not accept the Ministry of Finance proposition to cut staff or salaries in education.