Tuesday, June 8, 2010

Romanian Wages Rise in April

Salaries in Romania rose by 2.0 per cent in April compared to the same month in 2009, the National Statistics Board reported on Monday. April's average salary was Lei 1,436 (350 euros), down by 4.8 percent from March 2010.

The month on month drop was attributed to various bonuses that were given in March, such as for Easter and the thirteenth monthly salary.

Recession-hit Romania, which is relying on a €20 billion IMF-led loan, has pledged drastic public spending cuts to rein in its deficit, which this year stands at 6.8 per cent, and restart its economy, which continued to contract in the first quarter.

Starting from June 1, state sector wages is be cut by 25 per cent and all salaries, including the minimum wage, will be affected. Jobless benefits and pensions will be cut by 15 per cent.

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