Finance, Banking and Economic News - 11 August 2011 -
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Finance, Banking and Economic News
11 August 2011

Page: 1 

The European Commission on Thursday approved Spain's request to restrict its labor market to Romanian workers until December 31, 2012 due to serious disturbances on its labor market, the EC said in a press release. read more...

Romania's Government will block certain pension raises, which would have taken effect next year, until 2014, arguing that the lack of a "sustainable framework" for the pension law's application will increase the social security budget deficit. read more...

Romanian public sector employees will receive no vacation, gift or meal vouchers until 2014, no bonuses until 2013 and will be rewarded for overtime with free hours only, according to the Government's fiscal-budgetary strategy for 2012-2014. read more...

Romania's Government will change the building, land and vehicle tax system, introducing a new calculation method that will allow earnings from this source to increase by more than 1 billion lei (EUR233 million) over the next three years. read more...

Romania's Government will extend the deadline by which it must provide at least 6% of the GDP to the education system by two years, until 2014, arguing that it would entail an additional budgetary burden of more than 46 billion lei (over EUR10 billion) in 2012 and 2013. read more...

The Romanian Development Ministry significantly increases fines charged to homeowners and local authorities who fail to carry out technical inspections and start rehabilitation works on buildings considered to have a high seismic risk. read more...

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