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Rising incomes in Romania

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The net average salary in Romania in 2008 will rise by 13.2%, the National Forecast Commission says. This will take net average salaries to 1,181 lei (€320, $500).

Gross average incomes will stand at Lei 1,580, compared to Lei 1,410 last year. For 2009, the National Forecast Commission (CNP) is expecting a net average salary of Lei 1,303, which will rise to 1,819 by 2013. The net average income of Romanians grew by more than 15% in December 2007 compared to the previous year. However Bulgarians and Romanians still have the lowest incomes in the European Union, according to leading international bankers, JP Morgan.

Romania’s central bank and financial analysts have repeatedly warned Prime Minister Calin Popescu Tariceanu’s centrist minority government, that keeping the rate of salary increases over levels of labor productivity could destabilize the economy and lead to a rise in inflation. The CNP forecasts for 2008 the rate of employment rising 2% year on year. The Romanian unemployment rate was 6.1% in the last quarter of 2007, at a level close to the one in the previous quarter, but down from 7.2% in the last quarter of 2006, according to figures from the National Institute of Statistics. (BalkanInsight)

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