Romania Won’t Tap Into Reserves For Public Wage Hikes

05.06.2012 By Oana Gavrila

Romania’s EUR5 billion reserve at the Finance Ministry is intangible and will be used only to pay loans due in 2012, while public wages will be raised by agreeing with the iMF to raise the budget deficit from 1.9% to 2.2% of GDP, President Traian Basescu told a news conference Sunday.

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