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Bbc News Romania To Cut Wages And Pensions To Appease Imf
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post May 8 2010, 05:03 AM
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Romania is to cut wages and pensions in the public sector later this year to comply with an IMF-led rescue deal. Romanian President Traian Basescu said the "programme to cut public expenses was inevitable.
Public sector wages will be cut by 25% and all salaries, including the minimum one, will be affected. Jobless benefits and pensions will be slashed by 15%. Romania is the recipient of a 20bn-euro aid package from the IMF, the EU and the World Bank.
The country, as well as two other bailed-out states, Latvia and Hungary, have missed targets for cutting their deficits by significant margins.

Read more: BBC News Romania to Cut Wages and Pensions to Appease IMF
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