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Romanian authorities will consider reducing social security contributions in mid-2011, in order to cut workforce costs, which are higher compared to other countries, Finance Minister Gheorghe Ialomitianu told Pro TV in an interview Tuesday.

Romania will reduce minimum social pensions to 300 lei (EUR1=RON4.1756), from the current RON350, and will adjust them according to macroeconomic indicators and the country’s financial resources, according to a draft emergency decree regarding public spending cuts.