Romania president cautious on pay rise deal with IMF

Sun, 05/06/2012 - 09:25 EDT - France24.com - Business

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Romania's President Traian Basescu said Sunday he would oppose a deal with the IMF and the EU to raise public wages if it meant exceeding the public deficit target set for 2012.Florin Georgescu, finance minister in the left-leaning government expected to win parliament's approval Monday, said an agreement had been reached with the International Monetary Fund on increasing the budget deficit in order to hike public wages.Crisis-hit Romania had slashed wages in the public sector by 25 percent in 2010 and all political parties have pledged to restore them this spring.

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Romania president cautious on pay rise deal with IMF

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