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Supplementary letter agreed with the IMF: lay offs in the budgetary system will continue starting 2011, compensatory measures if the fiscal strategy is blocked judicially 

de A.C.     HotNews.ro
Miercuri, 17 noiembrie 2010, 20:52 English | Top News

The Government promised to the IMF that the decrease in the number of budgetary personnel will continue next year and to diminish the budgetary defcit to 3% of GDP in 2012, the executive will cut costs, including spending on salaries and bonuses. Plus, the government will not apply ordinance 50/2010 for existing credits, a precondition imposed by the IMF, Romanian news agency Mediafax informs. 

The committment to continue lay offs in the public sector in 2010 and 2011 was included in the supplementary letter to the IMF at the end of the IMF's mission in Romania. The executive commits to continue to cut the number of personnel and continue the reform of the educational system, generating extra money through several measures meant to cut costs. 

By the end of the year, the number of budgetary personnel need to be cut to 1.29 million, according to previous agreements with the IMF. The document include's the government's committment to cut the budgetary deficit by 2012 to 3% of GDP. The document reads that the government will maintain spending restrictions and can impose other supplementary measures. 

One of the preconditions for the next IMF instalment is not to apply ordinance 50/2010 to existing credits. The modification of the ordinance is one of the five preconditions imposed by the IMF. 

The government ensured the IMF that it is ready to introduce supplementary measures if the fiscal strategy for the upcoming period will be blocked due to judicial restrictions.




















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