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Govt. cuts local development program PNDL to squeeze in higher pensions

Government expects its revenues to increase by 10% in 2020 compared to 2019, at a similar rate as this year, but it plans much smaller advance of expenditures: only 7% year-on-year, less than half the average annual rise seen in 2018-2019, according to the draft budget planning sketched by the Finance Ministry. While the social security budget is estimated to rise by 14.5% (or over RON 16 billion) from 2019 to 2020, as a result of higher pensions, the ...

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