Press Review - August 30, 2017

08.30.2017 By Oana Gavrila

PM: Govt To Decide on Private Pensions Next Week

The government will make a decision regarding the mandatory private pension system (Pillar II) next week, prime minister Mihai Tudose said on Romania TV.

He said the labor minister has finished the draft to amend the pension law, which aims to fix a number of inequities.

Tudose said the government is considering three options regarding Pillar II: leaving it as is but cutting the administration fees of private managers, lowering contributions to private pensions in favor of state pensions, or leaving it up to contributors to decide which pension pillar to support more.

Deputy prime minister Marcel Ciolacu said last week the government would decide what to do about mandatory private pensions, saying analysis of the financial supervisory authority ASF and of the finance ministry showed “concerning figures”. ASF said in response the mandatory private pension system is solid and has positive yields.

Romania's association for private pensions has called for a meeting with Prime Minister Mihai Tudose to discuss the government's analysis of state versus private pensions.

Sovereign Investment Fund Bill Could be Sent to Parliament in September

Prime minister Mihai Tudose said the bill setting up a Sovereign Investment Fund could be sent to Parliament for debates in September, before it receives EU approval from Brussels.

“The finance ministry has taken necessary steps to secure Brussels' approval. We're awaiting a reply, which takes about 60 days, said Tudose.

The prime minister said the bill will be discussed again by the government and the ruling party and would be sent to Parliament.

“It can be debated in Parliament while we wait for Brussels to respond”, he said.

Oradea Airport To Build New Terminal

The Oradea Airport will take a 15-year loan for RON6.7 million to build a new passenger terminal and upgrade its existing terminal.

The loan will be guaranteed by the local county council.

Works on a new terminal are estimated to cost RON22 million.

In the first half of the year, the international airport in Oradea registered 55,511 passengers, up 286.92% compared with the same period last year.

Education Ministry Proposes Controversial Online Test Correction For National Exams

Romania's Ministry of Education proposed that exam commissions corrected online the test papers from the national exams, as well as those from the tenure and registration exams, a suggestion that sparked outrage among Romanian parents and pupils.

The ministry said that the tests would be encrypted, yet parent and pupil associations oppose the initiative. They say that this kind of evaluation lacks an institutional framework and that it will jeopardize the security and objectivity of test evaluations.

The ministry is yet to give a statement on the matter.

Bucharest City Council Discusses Raising Heat Distribution Prices

Bucharest's city council meets Wednesday to discuss raising heat transport and distribution tariffs by around 30%.

Bucharest city manager Sorin Chirita said last week residents of the Romanian capital would be spared the effects of the 30% increase in the price of thermal energy.

He said authorities would either raise heat subsidies or cut the value-added tax on heat to 5%, so prices hikes would not be transferred to household bills.