The Romanian government will maintain until 2020 its policy of cutting taxes, raising the minimum wage and state pensions in an effort to improve its citizens’ living standards, Liviu Dragnea, leader of the ruling Social Democratic Party (PSD) told Reuters.
According to Dragnea, who is also the speaker of the Chamber of Deputies, the government could also make it optional to join a private pension scheme.
Currently, membership of private pensions is mandatory for employees under 35 and any changes could hurt the capital market as pension funds are among its biggest investors.
“The need for fiscal relaxation both for the private sector and for employees was acute. And … it will continue, we will lower both the number of taxes and their amount,” he told Reuters.
Romania will also push for investment to generate budget revenue and attempt to sell stakes in a several publicly owned government companies on the Bucharest bourse over the next two years, Dragnea added.