Romania’s pension fund deficit may reach EUR 3.7 bln next year

Romania’s deficit to the pension fund is estimated to reach RON 17.2 billion (EUR 3.77 billion) next year, due to the salary increases that automatically triggered an increase in pensions, said the finance minister Ionut Misa yesterday.

In 2016, the deficit to the pension fund amounted to RON 15.6 billion (EUR 3.4 billion), according to the minister.

He added that the average pension in the aviation sector reached RON 10,849 (EUR 2,377) in May. Of the total amount, the contribution was only RON 2,751 (EUR 602), whereas the rest came from the budget, the minister explained.

The budget allocated for special pension funds amounts to RON 7.2 billion (EUR 1.5 billion) this year. Military pensions account for RON 6 billion (EUR 1.3 billion) of the total amount, Misa said yesterday.

The Government will discuss today the new bill amending the special pensions law.

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