Romanian Parliament Adopts 2011 Social Security Budget

The Parliament adopted the budget in the form suggested by the Government and rejected all of the opposition’s amendments.

Romania’s social security budget for 2011 is 47,892,981,000 lei (EUR1=RON4.2849), financed as follows: 70.1% from social security contributions through the public pension system, 0.6% from work accident and professional illness contributions, 0.2% from non-fiscal revenue and 29.1% from state subsidies.

According to the social security budget, the pension point will be kept at the 2010 level next year – RON732.8.

The Government expects inflation to decrease to 5.3% in 2011, the gross average salary to increase to RON2022, the number of jobless people to drop by 10,000 and the unemployment rate to decrease to 7.8%, from 8% in 2010.