Romania’s Pension Law To Be Approved By Govt In February - PM

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The draft pension law will be approved in the Government's meeting on February 3, immediately after the Parliament resumes activity. During the Parliament's recess, the Executive can approve only certain decisions and decrees.

People close to the matter told MEDIAFAX Friday that the Government would ask the Parliament to approve the pension law by the end of May and adopt the draft education law by the end of the first half of the year.

Romanian Labor Minister Mihai Seitan said Friday that the Parliament needs a "reasonable deadline" to adopt the Law on pensions, explaining that it cannot be adopted before the month of March.

The World Bank urged Romanian authorities to have the draft pension Law sent to Parliament for debates early February and step up proceedings to implement the unitary wage Act, Seitan said Thursday.

An IMF mission arrived in Bucharest January 20 for a seven-day stay to assess Romania's performance under the standby deal. If the mission's report is positive, the IMF may disburse two new tranches to the country, totaling EUR2.3 billion.

Since it signed the agreement in March last year, Romania received nearly EUR7 billion from the IMF in two installments. A third disbursement should have arrived in December last year, but the IMF temporarily suspended the program due to political instability.