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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO lawmakers pass another bill with major impact on public spending

Romania's Chamber of Deputies adopted on Tuesday, October 14, as the decision-making chamber, a bill that increases the benchmark used for calculating social benefits, such as unemployment benefit, from RON 500 to RON 1,200 in three years, G4media.ro reported.

The Parliament sent the law to president Klaus Iohannis for promulgation.

According to the report adopted by the Labor Commission, the increase will be gradual over the next three years: to RON 780 in January 2021, RON 990 in January 2022, and RON 1,200 in January 2023.

Afterward, the benchmark will be indexed with the inflation rate.

The law's initiator calculated the budgetary impact in a single year at RON 10.4 bln (EUR 2.14 bln) annually or 0.99% of GDP (2019).

The Government estimated an annual budgetary impact of RON 856 million (EUR 176 mln) per month.

Given that the Parliament voted for a staged increase, the budgetary impact would be about 0.4% of GDP in the first year (2021), according to the bill's initiator, MP Adrian Dohotaru.

The Government issued a negative opinion on the bill, saying that the initiators did not provide the financing source to increase social benefits.

(Photo: Cateyeperspective/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO lawmakers pass another bill with major impact on public spending

Romania's Chamber of Deputies adopted on Tuesday, October 14, as the decision-making chamber, a bill that increases the benchmark used for calculating social benefits, such as unemployment benefit, from RON 500 to RON 1,200 in three years, G4media.ro reported.

The Parliament sent the law to president Klaus Iohannis for promulgation.

According to the report adopted by the Labor Commission, the increase will be gradual over the next three years: to RON 780 in January 2021, RON 990 in January 2022, and RON 1,200 in January 2023.

Afterward, the benchmark will be indexed with the inflation rate.

The law's initiator calculated the budgetary impact in a single year at RON 10.4 bln (EUR 2.14 bln) annually or 0.99% of GDP (2019).

The Government estimated an annual budgetary impact of RON 856 million (EUR 176 mln) per month.

Given that the Parliament voted for a staged increase, the budgetary impact would be about 0.4% of GDP in the first year (2021), according to the bill's initiator, MP Adrian Dohotaru.

The Government issued a negative opinion on the bill, saying that the initiators did not provide the financing source to increase social benefits.

(Photo: Cateyeperspective/ Dreamstime)

[email protected]

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