Public servants in Romania have pharaonic wages, which exceed most of the best-paid CEOs from multinational corporations. And who wouldn’t want to get close to EUR 200,000 a year for a job in the public sector?
After two years spent in judicial courts trying to declassify the salaries of the Financial Supervision Authority – ASF, a Romanian leftist politician from the reformist party USR succeeded in making salaries available to be known by the general public.
The salaries of the employees from ASF are so high that they even exceed almost five times the salary of Romania’s President. But it’s not only the salaries that bring revenues to the public servants who work here; it’s also the payment for their rent, the refunds of the transportation costs, the four salaries they have in addition each year, one for every vacation or special holiday, all paid from the tax-payers money.
The context of this subject is not so good for ASF. The institution failed to prevent the problems with many insurers in the market, such as City Insurance or Euroins. Also, all these happened when Prime Minister Marcel Ciolacu started cutting all unnecessary expenditures, including pharaonic bonuses or similar wages.
Such anomalies in Romania’s public sector made the country register the most enormous public deficits in the European Union, with no chance of making any correction in the short term. Also, Romania is one of the countries with the highest public servants per population ratio.
The whole financial and economic burden lies on the shoulders of entrepreneurs, and the Socialists in power in Romania don’t favour any drastic change in the foreseeable future.
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