Leaner public employee headcount by 2010 under governing program

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Next year’s tax policy provides the narrowing of the budget deficit to 5.9 percent of the GDP by measures that envisage the correction of the ratio of current expenditures to investment expenses, reads the 2009-2012 governing program proposed by the new ruling line-up.

To this end, the program provides the streamlining of the public sector’s institutional structure, of the number of employees and related costs, the strengthening of structural reforms in the pension system by broadening the contribution base and by a better management of disability pensions and early retirements, improved targeting of existing social assistance programs and the consolidation of the more than 200 existing social aid categories, as well as by a prudent wage policy in the public sector, which should take into account the macroeconomic and budgetary constraints.

The fundamental goal of the tax policy will be to restore the credibility and stability of public finances by establishing a balance between the short-term response to the economic crisis and the medium term goals of strengthening public finance, observing the budget deficit target set for 2010 and reducing the governmental sector’s net need for financing, the further fiscal consolidation with a view to meeting the deficit target of 3 percent of the GDP by structural measures aimed at ensuring the medium-term sustainability and maintaining the calendar for the adoption of the euro, promoting a counter-cyclical fiscal policy capable of rendering the process of economic growth sustainable.

The governing program also provides the promotion of the fiscal accountability law and of the law on the reform of the pension system.

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