Government agrees to cut salaries of managers of state companies

The salary of executives in state-owned or state-run companies and state monopolies shall not exceed 3 average salaries paid in the respective company, under a bill approved by the Government on Wednesday. Previously the cap was set at 5 average salaries, Info-Prim Neo reports. The bill also caps premiums to 6 salaries per year and they should be contingent on the company's economic performance. Social Protection Minister Valentina Buliga said this bill is just a first step towards regulating the salaries of managers of state companies. The measure does not apply to the salaries of heads of agencies or organizations similar to agencies and who are appointed by the Government or Parliament.