PM Boc: Final talks with the IMF will be aimed at preserving jobs and securing economic growth

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Finance Minister Gheorghe Pogea and the other ministers making up the Romanian Government’s team negotiating with the International Monetary Fund (IMF) and the European Commission, were mandated for the final part of the negotiations to make decisions on supporting the economy and the business environment for preserving jobs and securing economic growth, Prime Minister Emil Boc said on Monday at the end of a meeting of the ruling coalition.

He said that the decisions will regard preserving the flat income tax, the same Value-Added Tax (VAT) levels as now and exempting reinvested profits from taxation as from October 1.

At the same time the mandatory tax on businesses will be restricted to certain activities only as from January 1, 2010.

‘We also decided to continue refunding the VAT in a transparent manner, and the local administrations will be financially aided, provided they meet two requirements: they have cost standards and carry out transparent investments,’ said Boc.

He mentioned that in the social sphere decisions will be made concerning the preservation of jobs.

‘Where restructuring is justified, it will be performed against precise criteria that combines quality and quantity and such measures have to be taken after rigorous analysis.

That is why we will meet today at 14:30 with officials of associative structures from the local public administration to prepare the framework necessary for approving such cost standards, which should exist everywhere in the Romanian economy,’ said Boc.

He added that the members of the negotiating team decided to meet the pledges for a 2- percent increase in pensions as from October 1 and an increase in the minimum pension.

The prime minister said nowhere in the letter of intent negotiate with the IM is there mentioned figures for the redundancies that should be performed in the public sector.

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