Romanian Senate head Citu proposes cutting social security contributions to prop up wages

Romanian Senate's head and leader of the Liberal Party (PNL) Florin Citu proposed cutting by 5pp (to 20%) the social security contribution as a temporary measure to boost employees' net incomes during the difficult times expected.

"I have not yet succeeded in convincing my coalition partners that this is the best measure, but I will not stop coming up with arguments. Particularly now, when we see that the prices are rising and the purchasing power must be increased - and must be increased for all Romanians. The only option is to reduce the [social security] contributions. There is no other option," Citu said, according to Economica.net.

Although a former finance minister, Florin Citu hasn't come up yet with an estimate of the impact of such a measure on the public pension budget, the general government budget and employees' pensions at retirement age.

(Photo source: Facebook/Florin Citu)