Tanasescu: IMF, World Bank agree on last form of draft unitary salary law

The International Monetary Fund (IMF) and the World Bank in particular agree on the last form of the draft law on a unitary salary in the public sector, Romanian IMF representative Mihai Tanasescu told on Friday.

The government on Friday unveiled the last form of the draft unitary salary law to the IMF and World Bank officials.

Tanasescu added, however, that nothing was discussed about the 705 lei level to which the minimum salary in the economy would be raised from 2010 and stressed such salary will be established depending on the evolution of the macroeconomic indicators.

According to him, the draft unitary salary law is sustainable in its last version and it brings certain discipline to the public sector.
‘The most important thing is the implementation of this unitary salary law and there is the political will to implement it starting Jan. 1, 2010’, he said.

Tanasescu explained that the share of the public sector salary expenditure would drop from 9 percent to 6 percent of gross domestic product (GDP) and that the projections of the GDP growth on which the normative act is based are not optimistic, but they take into account the scenarios for the evolution of the emerging markets in the next years as well as the fact the Romanian economy has a high growth potential of at least 5-6 percent per annum.

Tanasescu pointed out Romania must learn ‘the lesson of the crisis’ and no longer repeat the mistakes made in 2007-2008 with respect to controlling the way the public money is spent.


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