The Romanian parliament voted on Tuesday (Sep. 22) to hike all state pensions by 40%. The 40% increase was first approved last year by the then ruling Social Democratic Party (PSD), which remains parliament’s largest party.
Legal & Tax
The Coalition for Romania’s Development (CDR), a private, non-political initiative, gathering the most representative organisations for the business environment in Romania, wrote an open letter to the Prime Minister Viorica Dancila on Wednesday (Jan.
Romania’s government approved the legal framework for the setting up of sovereign wealth funds for development and investment, finance minister Eugen Teodorovici announced on Thursday.
Social security contributions will be borne exclusively by employees as of January 1, 2018, the Ministry of Public Finance says in a press release.
Over 60% of financial managers in Romania say that frequent changes of legislation is a challenge for local businesses, according to a study by GfK, the market research institute.