private sector

Romania’s Finance Minister Sebastian Vladescu said Sunday on private television ProTV the Government will cut as many jobs as the system needs to function efficiently, adding layoffs will continue until a proper balance between the public sector and the private sector is achieved.

Romanian private environment took a harder blow than the public sector in the financial crisis’ aftermath and the authorities will take measures to correct the asymmetry created, interim Finance Minister Gheorghe Pogea said Thursday.

The salaries of employees in the Romanian private sector will have a negative evolution this year, in real terms, which will fuel a significant decrease in consumption, analysts said, adding a drop in salaries, in nominal terms, is not out of the question.