Romanian Prime Minister Calin Popescu-Taricean on Wednesday announced a government program for economic growth and a higher number of jobs amid the global financial crisis.

He said that in the next four years, the government seeks to invest at least 10 billion euros (US$12.5 billion) "in the economic areas that are crucial to Romania's future."

According to the prime minister, the program includes the reduction of the taxes borne by the Romanians and it also sets the amounts to be earmarked for housing construction.

"We want more and more Romanians to join the middle class. Therefore, we want to cut taxes. The program on economic growth and higher number of jobs calls for cutting the social security contribution by 10 percent. Thus, Romania will have one of the lowest values of social security contribution in Europe," Tariceanu said in a press statement.

He announced that 220 million euros (US$275 million) will be assigned to build welfare houses "so that the Romanians living on low incomes may have the chance to have a house." The government will also double the budget funds earmarked for building apartments, he added.

The prime minister announced the government plans to give a "fiscal bonus" of 5 percent to those paying their taxes on time, from January 1, 2009. "Furthermore, the dividends that will be re-invested or invested in new firms will be tax exempt from January 1, 2009. At this moment we have a flat tax rate at 16 percent on profit and dividends," he explained.

Tariceanu voiced confidence that the Romanians can overcome the economic and financial crisis being felt internationally, adding that "any pessimistic prospect should be avoided."

(Xinhua News Agency November 13, 2008)