Romania minimum salary set at 500 lei

History

Romanian labor minister Paul Pacuraru has announced that the minimum salary in 2008 was set at 500 lei (€145 or about $211). Employers’ unions have agreed with the threshold, while trade unions said they favored a re-evaluation of an amendment to rectify the 2008 budget – according to HotNews.ru.

Economy analyst Constantin Rudnitchi told HotNews.ro that the “Government decision is a compromise. As far as I remember, the Government first offered 480 lei, and trade unions demanded 540 lei.” For consumers, this is a good thing because it will lead to better salaries in Romania, he said. “But there is also a threat. It’s obvious that the inflation targets for next year can be threatened. People earn more, spend more", and that leads to higher prices. Summing it up, a salary boost “is good for employees but worrisome for the budget and inflation”, Rudnitchi said. (hotnews.ru)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Culture