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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romanian Liberals float the idea of capping social security contributions

Acting finance minister Dan Valceanu prompted public debates when coming up on October 10 with the idea of capping the contributions to the public health system. He said "it is unfair for those to earn more, therefore, pay more - but get the same services," daily Adevarul reported.

Prime minister Florin Citu admitted that the Liberal Party (PNL) that he leads is envisaging capping the social security contributions (health, pension) indeed - but by 2024.

"We want the cost of these contributions paid by the people to be lower," acting PM Citu said, quoted by News.ro.

Such policies, envisaged by PNL under the circumstances of progressive taxation in European countries, are quite surprising.

Romania's budget revenues account for under 30% of GDP while the core European countries boast ratios of over 40% - precisely thanks to progressive contributions.

Furthermore, Valceanu's idea backed by Florin Citu marks a radical change in the party's rhetoric - the Liberal Government so far prepared a strategy to waive the social security contributions for those earning the minimum wage.

Commenting on this topic, former minister of economy Claudiu Nasui - a member of USR, which was invited to form the new Government - argued against minister Valceanu.

"It's an interesting idea, but totally wrong," Nasui explained, quoted by Adevarul, adding that it would not improve the situation of the low-income earners.

(Photo: Gov.ro)

iulian@romania-insider.com

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romanian Liberals float the idea of capping social security contributions

Acting finance minister Dan Valceanu prompted public debates when coming up on October 10 with the idea of capping the contributions to the public health system. He said "it is unfair for those to earn more, therefore, pay more - but get the same services," daily Adevarul reported.

Prime minister Florin Citu admitted that the Liberal Party (PNL) that he leads is envisaging capping the social security contributions (health, pension) indeed - but by 2024.

"We want the cost of these contributions paid by the people to be lower," acting PM Citu said, quoted by News.ro.

Such policies, envisaged by PNL under the circumstances of progressive taxation in European countries, are quite surprising.

Romania's budget revenues account for under 30% of GDP while the core European countries boast ratios of over 40% - precisely thanks to progressive contributions.

Furthermore, Valceanu's idea backed by Florin Citu marks a radical change in the party's rhetoric - the Liberal Government so far prepared a strategy to waive the social security contributions for those earning the minimum wage.

Commenting on this topic, former minister of economy Claudiu Nasui - a member of USR, which was invited to form the new Government - argued against minister Valceanu.

"It's an interesting idea, but totally wrong," Nasui explained, quoted by Adevarul, adding that it would not improve the situation of the low-income earners.

(Photo: Gov.ro)

iulian@romania-insider.com

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