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Document / Analysis by Fiscal Council: The 14 social measures decided by Grindeanu government have a negative budgetary impact of 8.9 billion

de Razvan Diaconu 13.1.2017

 

The Fiscal Council estimated Wednesday that the budgetary impact of the social measures decided by Grindeanu government will amount 8.9 billion lei, representing 1.1% of GDP.

Presidential Adviser Cosmin Marinescu, Head of the Department of Economic and Social Policies, requested the Fiscal Council to make an analysis regarding the first-round effects on the balance of the general consolidated budget of the measures taken by Grindeanu government in the last 6 days.

The Fiscal Council has sent Wednesday the analysis that the President used in this Wednesday’s discussion with Prime Minister Sorin Grindeanu and Minister of Finance Viorel Stefan.

The Fiscal Council’s data indicate:

*

  • Newly proposed measures     Date    Billion lei          %GDP
  • 20% wage increase in public administration – net impact
  • additional spending
  • 50% wage increase for artists – net impact
  • additional spending
  • Increase of pension point to 1,000 lei
  • Increase of minimum pension to 520 lei
  • Doubling the allowance for students
  • Increase of national minimum wage to 1,450 lei
  • Budget revenues
  • Adjustment of the tax regime for microenterprises
  • Tax income and CASS exemption for investment income if this is not the only source of income
  • Repealing the healthcare contribution for pensions
  • Repealing the tax income for pensions between 1,050 and 2,000 lei
  • Repealing 102 parafiscal taxes
  • Increase of the national minimum wage to 1,450 lei
  • Elimination of the threshold for insurance contributions
  • Introduction of a non-taxable threshold for the income from the transfer of ownership of constructions and land, of 450,000 lei
  • All measures (negative impact)

Click to enlarge

*

On Wednesday morning, the PSD Chairman Liviu Dragnea wrote on Facebook: “Every measure, its beneficiaries, budget impact and the time of its entry into force. And all were promises made during the elections that we already honoured.

The total impact is 2.65 billion lei. Do yourself the calculations… what would have been done with the 10 billion lost along the way by the technocrats.”

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Publicat la data de 13.1.2017

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