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Romania's economy "cannot support the 40% increase in pensions"

Romania's economy "cannot support the 40% increase in pensions"

Articol de Radiojurnal, 24 Septembrie 2020, 18:56

Romania's economy cannot support the increase of pensions by 40%, in the conditions of the negative evolution of the economy caused by the COVID-19 pandemic - warns the Coalition for the Development of Romania.

The organization denounces the populism manifested in Parliament by the decision to increase pensions a few days before the election and says that the business community is worried that these measures will leave the state budget without money for investments, which should be the engine of economic recovery.

The Coalition for the Development of Romania brings together, among others, the American and Romanian Chambers of Commerce, the Romanian Businessmen's Association, the Romanian-German Chamber of Commerce and Industry, the Council of Foreign Investors, the "Concordia" Employers' Confederation and the National Council of Small and Medium Private Enterprises Romania.

The companies represented by the 25 business organizations have over one million employees and generate approximately 50% of the gross domestic product.

Translated by: Radu Matei

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