Romania to Double State Pensions by 2022

Government plans to boost pension spending to $35.2 billion in four years. In a move to eliminate discrepancies that have built up between various beneficiaries of the state pension system, Romania’s government has approved a plan to increase pension-related spending to 142 billion lei ($35.2 billion) by 2022, from approximately 62 billion lei this year. The plan is expected to more than double state pensions over the next four years for the country’s 5.2 million retirees, according to Reuters. Olguta Vasilescu, Romania’s...