Deputy PM Ciolacu: The solidarity tax, no extra expense for the employer

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The solidarity tax of 2 percent, which is going to be introduced in 2018, will not bring any additional expenses to employers, Deputy Prime Minister Marcel Ciolacu assured in a press conference on Monday, organized by economica.net.

“The 2 percent solidarity tax will go to the state budget,” said Ciolacu, who reiterated that it is not a new fee. “There will be no new tax in 2018,” Deputy PM pointed out.

He also assured that the Pension Pillar 2 will not be nationalized.

”Returns from the public pension fund to the mandatory private pension funds could be correlated with the rate of social security contributions so that the state not fully pay the contributions to the administered funds, but a smaller part of them,” Ciolacu said.

However, according to him, the Government’s key strategic priority is the re-launch of major investment projects.

“At this moment, we are going through a good economic period. We are the first in the EU in terms of economic growth, which has prompted all institutions and international financial institutions to constantly review the estimations regarding the Romanian economy’s evolutions this year. We will certainly exceed the proposed target of 5.2 percent GDP growth. However, we need to be realistic and recognize that we need a consistent and serious policy agenda that will counteract certain risks and vulnerabilities that could affect us all (…) This must be the main engine of development for a truly sustainable and competitive economy and not the consumption,” Gov’t official stated.

Deputy PM added that the main government effort this year has been unlocking the infrastructure projects. Ciolac also showed that the Executive’s attention will focus on European funds and to revitalize the national defense industry.

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