Romania’s Government has agreed on a budget plan for next year with the International Monetary Fund and the European Commission, currently on an official visit to Romania, the Prime Minister Victor Ponta has announced.

In 2014, the minimum wage will increase in two stages to RON 900, from the current RON 800, but “there will not be an equal increase for all employees, but a growth targeted on certain categories”.

Also, all pensions will be upped  by 3.76 percent, Ponta announced.

However, the Romanian Government will also align excise taxes to inflation rates, as a measure taken to increase revenues, and will introduce a tax on "special" buildings, namely buildings owned by corporations, such as warehouses and storage houses.

The Government will also increase by 25 percent royalty taxes on mineral resources, except oil and gas, and will introduce a seven eurocents tax per liter of fuel on petrol or diesel.

“The money will go to the special fund for the development of road infrastructure, more specifically, for major infrastructure projects,” said the Romanian Prime Minister.

A mission of the International Monetary Fund, together with teams from the European Commission and the World Bank is currently in Bucharest to discuss the first review of the fund’s EUR 1.98 billion stand-by arrangement with Romania. Their visit ends on November 5.

Irina Popescu, irina.popescu@romania-insider.com