2009 Social Insurance Budget passes fist reading

The draft 2009 State Social Insurance Budget passed today in a first reading with bipartisan support as the opposition MPs strongly objected it, Info-Prim Neo reports/ According to Social Protection Minister Galina Balmos, the Social Insurance Budget for the next year provides for incomes of 7.51 billion lei, by 1.25 billion lei more than this year's. The main income source (85 percent) will continue to be social insurance contributions withheld from salaries. The percentage of the contribution from one's pay will remain at 29 percent, split between the employer and the employee at a ratio of 23 to 6 (as compared to this year's ratio of 24:5). Expenses are projected at 7.57 billion lei, of which 5.4 billion lei will go to pay pensions to 619,000 pensioners. The child benefit fund will get a share of 139.2 million lei, and a mere 25.7 million lei will go to the unemployment fund. The draft still needs to pass second reading and presidential promulgation to be signed into law.