Romanian Senate's head and leader of the Liberal Party (PNL) Florin Citu proposed cutting by 5pp (to 20%) the social security contribution as a temporary measure to boost employees' net incomes during the difficult times expected.

"I have not yet succeeded in convincing my coalition partners that this is the best measure, but I will not stop coming up with arguments. Particularly now, when we see that the prices are rising and the purchasing power must be increased - and must be increased for all Romanians. The only option is to reduce the [social security] contributions. There is no other option," Citu said, according to Economica.net.

Although a former finance minister, Florin Citu hasn't come up yet with an estimate of the impact of such a measure on the public pension budget, the general government budget and employees' pensions at retirement age. 

iulian@romania-insider.com

(Photo source: Facebook/Florin Citu)