Experts from the International Monetary Fund (IMF) are recommending modifications to the recently adopted pension law by the Government. According to government sources cited by Agerpres, the IMF estimates that the expenses resulting from the implementation of the new pension law will be approximately 0.5% of the GDP in 2024 and an additional 1% of the GDP starting in 2025. The IMF mission, following its visit to Romania, is preparing the final Article IV report on the financial situation of Romania, which will be presented to the board. In light of the new pension law, the report will include a paragraph emphasizing that “the projection presented in the report does not include the expenses resulting from the application of the new pension law, estimated at approximately 0.5% of GDP in 2024 and an additional 1% of GDP starting in 2025,” as stated by the source cited by Agerpres. Additionally, it will be mentioned that these additional expenses imply a deficit trajectory inconsistent with fiscal consolidation and achieving the 3% of GDP target. The cited source further highlighted that IMF representatives emphasize the need for the component of the law involving these expenses to be “reconsidered, or the implementation of the law in the proposed form to be reconsidered.” The controversial pension law project, approved by the Executive on Thursday, has sparked debates within the Coalition. According to the Minister of Labor, Simona Bucura Oprescu, 2024 will be the first year in which a government will grant two pension increases—one based on inflation plus 50% of the real increase in the average gross wage, and the other through recalculation. She stated on Thursday that the additional impact compared to the increase in the current law, with recalculation from September to December 2024, amounts to 10 billion lei.
The Bucharest Tribunal ruled last Friday, April 26, that the trial of Andrew Tate and his brother Tristan could start. The two are accused of forming an organized criminal group, human trafficking, and rape. The preliminary chamber judge found the legality of the indictment and rejected several requests and exceptions formulated by the lawyers of […]
During a major event that brought together national and international medical professionals, Siemens Healthineers announced the premiere installation of MAGNETOM Flow in Romania, an innovative magnetic resonance imaging (MRI) technology designed to improve diagnostic capabilities and increase efficiency in patient care. Dominik Panwinkler, MR Business Manager CEECA at Siemens Healthineers, highlighted some of the advantages […]
The demand for skilled and unskilled workers is 10%-20% lower than it was last year, the experts are less inclined to change their jobs, and the contraction in the IT market already visible in the UK and western Europe is reaching Romania to some extent, according to Alexandra Peligrad, CEO of Smartree human resources company. […]
Sorina Pintea, former Social Democrat (PSD) member of the Parliament (2016-2017) and later minister of health (2018-2019), was sentenced to 3 years and six months of jail with execution for bribe-taking by a ruling given by Cluj Court on April 26. The decision is not final and can be appealed,
Banca Transilvania, OTP Bank, and Exim Banca Romaneasca won in court against the consumer protection body ANPC on the loan repayment formula, bringing to five the number of financial institutions that invalidated ANPC’s decisions, Profit.ro...
BayWa RE Romania, the Romanian subsidiary of the renewable energy division of the conglomerate of agricultural cooperative associations BayWa from Germany, plans to build its first photovoltaic park in Romania starting next year, according to
