Fin Min: The impact of unitary wage law will be 8.6pc of GDP in 2018

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The impact of the unitary wage law will be 8.6% of the GDP in 2018, Finance Minister Viorel Ştefan said on Tuesday. “I would have liked it to be 8%, but 8%-9% is sustainable level, the minister said after meeting Premier Sorin Grindeanu.

“Since eight o’clock this morning we’ve had a meeting attended by Labour Minister Olguta Vasilescu as well. As of January 1, 2018, we will implement a 25% wage increase for everyone and as of March 1, 2018 we’ll meet our goal of fully hiking the wages in the health system and by 50% in the education sector. The budgetary impact is of RON 75 billion, which is as share of 8.6% of the GDP. It is the target we have been looking for. We would have liked it to be 8%, however between 8 and 9% it is sustainable level,” Stefan said.

He said that in 2017 these expenses amount to RON 66 billion.

“From RON 66 billion in 2017, an amount that does not include meal vouchers, holiday vouchers, we will reach RON 76 billion as gross impact,” the Minister of Finance pointed out.

Labour Minister Lia Olguţa Vasilescu announced on Tuesday that all wages for public employees will increase by 25% as of January 1, 2018, the latest version of the unitary wage law agreed on Tuesday by the Ministry of Finance.

Labour Minister Lia Olguta Vasilescu has announced on Tuesday that doctors and teachers will not receive wage increases according to the timetable discussed so far.

Practically, the 100% wage increases in the health sector would no longer be applied as of January 1, 2018, but should be phased in, as in other sectors.

The Labour Minister announced that the salary increases in Education and Health will be phased in, i.e. by 25% as of January 1 for all budgets, with the rest of the salary increases as of March 1, i.e. up to 50% for teachers and up to 100% for doctors and nurses.

“As of January 1, 2018, all public employees will have a 25% gross wage increase, as of March 1, teachers will get 20% more, which added to the 25% increase means a 50% rise. Doctors and assistants have more than 100% growth, reaching the 2022 scale. This is the way (the unitary wage bill) will reach the (parliamentary) committee,” Minister Vasilescu told Antena 3 TV on Tuesday.

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