Romania to use budget surplus to increase state pensions by 20% this November
The 20% raise in public pensions in Romania, announced yesterday for
this November, will be most likely financed through the social security
budget surplus, as official figures show. Romania had a EUR 136 million
budgetary surplus at the public pensions' budget in H1 2008, 100 EUR
million less than in H1 2007.
The 20% raise in public pensions will take the average public pension
in the social security system to 191 EUR in November, right before this
year's general elections (scheduled to take place on November 30th).
The average public pension in Romania increased 55% in the last 12
months, and the social security budget is still registering a surplus -
to be used for the next state pension hike. There are currently 4.7 million pension recipients from Romania's social security budget.
