Romania recorded the largest public deficit among the EU states in 2018, according to data published by Eurostat, except for Cyprus (-4.8% of GDP last… Mai mult›
IMF report – Conclusions show that Romania has become a new and atypical growth model: through imbalances. Which will soon get to be paid
Romania’s macroeconomic imbalances have increased in the past year, and economic and fiscal policies have to change so that the population’s incomes and prospects of… Mai mult›
Discharging imbalances on RON exchange rate could start even this year. Analysts’ scenarios and BNR’s uncertainty
Analysts’ scenarios on the evolution of the exchange rate are rather prudent for the coming months, but severe for the beginning of the next year… Mai mult›
Stimulating over-indebtedness by stimulating consumption: Overdue loans trigger warning signal – Map of debtors
The policy of stimulating consumption has also distorted the degree of indebtedness in the territorial distribution, and rich counties are competing with the poor ones… Mai mult›
Interview with Fogh Rasmussen: “NATO’s role is to keep Russians out, Americans in and Europeans involved”
The text below is a series of fragments from the interview that former NATO Secretary General Anders Fogh Rasmussen gave to CRONICILE Curs de guvernare… Mai mult›
Net average salary reached EUR 600. Purchasing power, on the brink of 200% threshold relative to 1990
de Marin Pana , 21.1.2019
National nominal net average income increased by 2.6% to 2,792 lei, reaching the RON 600 threshold for the first time, at December’s average exchange rate, when the money has been earned and spent.
Adjusted to the price level (53% of the EU average, according to the latest Eurostat data), the purchasing power in euro rose to EUR 1,123. That is, EUR 600 earned in the country had the same effect, according to the official statistical methodology, with EUR 1,123 earned in a European country that would have prices at the average level (Italy is the closest to this situation).
Basically, after the average salary recovered from the decrease in July to September interval, it resumed its growth and will approach (probably successfully) the level of RON 2,800 at the end of the year.
The real earning index compared to the previous month was 102.7%, and on the back of the moderation of inflation, the increase compared to the same month of the previous year was at + 9.5%, the second highest increase in the last 12 months after March 2018.
The real reference wage (the purchasing power of the money earned expressed as an index compared to the purchasing power from October 1990, the last before the price liberalization) rose significantly by 5.3 percentage points, to 198.7%. The psychological level of 200% has this way become approachable for the end of 2018.
- Evolution of the national average net wage and purchasing power over the last 12 months
- Month Average net wage Euro/RON Average net wage Purchasing power
- December 2017
- January 2018
- February 2018
- March 2018
- April 2018
- May 2018
- June 2018
- July 2018
- August 2018
- September 2018
- October 2018
- November 2018
Increases by sectors – healthcare first, extractive industry within the negative range in terms of purchasing power
By sector of activity, the highest increase in wages was recorded in healthcare (+ 31.2% nominal and + 26.8% in real terms). Right behind, it appeared the agricultural sector (+ 29.3% nominal and + 25.0%, real terms) and the explanation is the strong increase in the forestry, logging operations, fishery and aquaculture segment (+ 61.3% nominal and +55.9% in terms of purchasing power), where the net average wage reached RON 3,784.
Far behind are constructions (18.3% nominal and 14.4% in real terms), education (+ 16.9% nominal and + 13.0% real terms), research and development activities (15.2% nominal 11.4% real terms), information and communications (14.7% nominal and 10.8% real) and water distribution, sanitation and waste (14.3%, respectively 10.5%), all of them above the average national wage growth.
Very close to this average level was the segment of hotels and restaurants and the electricity and heat generation, gas and water sector (both with a purchasing power increase of about 9% in real terms).
Public administration remained below the national average, with an advance of 9.2%, resulting in a 5.6% increase in purchasing power.
- Structure of nominal wage increases by sectors – November 2017- November 2018
- Sector Salary November 2017 Salary November 2018 Change
- Nominal Real
- Research and development
- Water supply, sanitation, waste
- National average
- Hotels and restaurants
- Electricity and heat generation, gas and water
- Real estate
- Manufacturing industry
- Public administration, defence, etc.
- Transport and storage
- Professional, technical and scientific activities
- Administrative and support services
- Extractive industry
- Financial intermediations and insurance
*The manufacturing sector, which sets the trend for the whole economy, recorded wage increases slightly higher than the public administration but remained in terms of the absolute level below 90% of the national average, a proportion significantly under the European practice.
The lowest wage increase was recorded in the financial intermediation and insurance sector (5.3% nominal and + 1.8% in terms of purchasing power).
Lăsați un comentariu
Romania - EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways
Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult›
Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals
Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult›
The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult›
Romania lost to Estonia in the final vote to get the non-permanent member position within the UN Security Council for the period 2020-2021. On Friday,… Mai mult›
Business internationalization / eMAG makes a step to entry five new international markets and targets a business of EUR 2 billion
eMAG hopes to get the opinion of the Hungarian Competition Council over the next two months for the acquisition of Extreme Digital, the market leader… Mai mult›
"At a distance from books": 85,000 teachers (one third of educational staff) are graduates of distance learning
Approximately 85,000 teachers are graduates of distance learning (ID) programs, Education Minister Ecaterina Andronescu said at a meeting with school inspectors from Caras-Severin County. The… Mai mult›
A book should be written or a movie should be made and sent to Viasat History about a treasure evacuated to Moscow, as it is… Mai mult›
Today, the European Automobile Manufacturers Association (ACEA) announced the status of commercial vehicle registrations in EU member states + EFTA in April and cumulated after… Mai mult›
The National Bank increased the inflation forecast for 2019 by 1.2 percentage points, from 3% to 4.2%. Also, the forecast for 2020 goes up by… Mai mult›
Emergency procedure at European Court of Justice for Romania’s question: Are MCV recommendations mandatory?
The Court of Justice of the European Union (CJEU) has decided that Bihor Court’s request to be discussed under the emergency procedure, which is a… Mai mult›
Government decides to increase external borrowing ceiling by EUR 4bn. It has consumed program resources for two years
The Government's agenda for Wednesday also includes the draft decision to increase the foreign loans ceiling for 2019 and 2020 by EUR 4 billion, up… Mai mult›
On Tuesday, the European Commission presented a series of policy recommendations on how Europe can shape its future within an increasingly uncertain and multipolar world.… Mai mult›
Meeting between Prime Minister Viorica Dancila and Chinese Prime Minister Li Keqiang: talks on a possible involvement of Chinese companies in PPP projects in Romania
On Friday, Prime Minister Viorica Dancila had a meeting with Chinese Prime Minister Li Keqiang, during which she stated her interest in involving Chinese companies… Mai mult›
So-called "Belina Law" was adopted. Opposition will refer CCR: it turns Belina Island into a fiscal paradise
The Chamber of Deputies adopted on Tuesday the bill that provides for a derogating tax regime, such as tax exemptions or reductions, for land and… Mai mult›
Deveselu shield is undergoing an upgrade process; the US provides alternative defence capabilities with THAAD systems
Aegis Ashore anti-missile system installed at Deveselu 99 Military Base will go in the next period through a previously planned upgrade process, the MApN announced… Mai mult›