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Average Romanian income up 15%

In data published by Romania's National Statistics Institute, INS, average monthly incomes stood at € 359 last December.

This represents a 12.9% month-on-month rise and an increase of 15.2% compared to December 2006.

Contributing to the growth were high wages paid in the financial sector and Christmas bonuses, INS added.

But the outlook is not all rosy. 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.

Tariceanu tried to calm those concerns by pledging on Tuesday to tighten fiscal policies and keep pay increases more in line with productivity rates. (HotNews)