Romanian government announces pension increases in draft budget

Pensions in Romania are set to rise following the proposals in the draft budget laid out on January 21. The government plans to increase the basic state pension point by 4 percent to RON 762.1 (around EUR 175 ). The total pensions budget will be around EUR 11. 5 billion. The state pension point is a standard unit of measurement for state pensions. Depending on work history, claimants receive multiples, or more commonly fractions, of the basic pension point. Meanwhile, total revenues for work related illness and accidents will be around EUR 67 million. The draft budget for unemployment insurance includes EUR 340 million in revenues and a little over EUR 388 million in expenses. The government presented the draft budget to parliament on January 21. The next step is to gain parliamentary approval for the draft budget, which is scheduled for this week editor@romania-insider.com (photo source: sxc.hu)