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The expenditure on pensions after January 1, 2024 will be 125.9 billion RON, annually, and will increase by 10 billion RON from September, the Minister of Labor and Social Solidarity, Simona Bucura-Oprescu, declared on Tuesday.
"At the moment we have an expenditure on pensions of 110 billion RON, annually. After January 1, 2024, we will have an expenditure of 125.9 billion RON, and after that of 135.9 billion RON, which means an additional increase in September of 10 billion RON, i.e. 2.5 billion RON per month. It is important for Romanians to know that the money for increasing pensions in 2024 is provided for in the budget," said Simona Bucura-Oprescu.
According to her, in 2024, the budget provides for the money to increase pensions by 13.8% from January, respectively for their recalculation and payment starting from September 1.
"In 2024, total spending on pensions is estimated at 9.4% of GDP, meaning we will reach exactly the previous percentage of GDP under the PNRR [the National Recovery and Resilience Plan)," stated the Minister of Labor, answering the question about the percentage of GDP reached with pensions from the public system, after indexing and recalculation in September.
She added that, for the year 2023, the total expenditure on pensions is 8.64% of GDP.
"It is very important for Romanians to know that the money, both for the increase in pensions starting from January 1, and for the recalculation that will be paid starting from September, is provided for in the budget. (...) By adding the amounts provided for in the state social security budget and the amounts provided for in the budget of the Ministry of Labor and Social Solidarity, you will find that for 2024 the total amount related to the expenditure on pensions estimated at this moment is provided for," said the Minister of Labor.
The parliamentary budget-finance committees approved, on Tuesday, the budget of the Ministry of Labor and Social Solidarity and that of the National Public Pension House with 25 votes "in favour" and ten "against".
