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An increase of the pension point will not be allowed over what could be done until this moment, said, on Monday, the Minister of Finance, Florin Citu, at the Bucharest Stock Exchange (BVB).
"We had last week several discussions and we need to explain what is happening today in Romania's Parliament because concerns are appearing over the fact that the opposition, the socialists, are bringing back to discussion the increase of the pension point by 40 pct. This is after the Government did something that is unique in the European Union, and I believe, the world, to increase spending on pensions, on (children) allowances, in a point in which we are going through the largest economic crisis. And I would like to assure both investors, as well as rating agencies, as well as those on the capital market that this Government will not allow, and the Prime Minister is here, will not allow the alteration of the pension point this year. It will remain as was established in the budget revision. We will not allow this year an increase of the pension point over what could be done up to this time. It's the message also of the Prime Minister and it is the message that I give here today because we do not have to have concerns on the capital market. We guarantee that we will manage public finances, and this is also a message for the President, with responsibility and precaution," Florin Citu said.
The value of the pension point was increased by 14 pct starting September 1, 2020, namely from 1,265 RON to 1,442 RON.
The capital market in Romania was included in the indexes of the global index supplier FTSE Russell for emerging markets starting with September 21, 2020.
The moment is marked by the Bucharest Stock Exchange, on Monday, by an official opening of the trading session which sees the participation of all the BVB partners that made this historical moment possible, state institutions, regulatory authorities and institutional partners. The event is also attended by the Minister of Finance, Florin Citu.
