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Romania Wages To Reach 75% Of Current EU Average 20 Years From Now-Labor Min

Romanian Labor Minister Paul Pacuraru on Tuesday said it will take two decades for Romanians’ salaries to reach 75% of the current European average wages, but only if the economic growth stays at the value registered in 2006.
Romania Wages To Reach 75% Of Current EU Average 20 Years From Now-Labor Min
13 nov. 2007, 21:19, English

“Romania needs another 20 years of constant economic growth, similar to the pace registered in 2006, to reach 75% of the current average in the European Union. The minimum wage cannot be hiked to the level proposed by the unions (between 550 lei (EUR1-RON3.4451) and RON700 – e.n.), as this would lead to increased inflation and slower economic growth. The minimum wage was set to RON500, following negotiations with unions and ownerships, but the 2008 budget was established based on a RON450 minimum wage,” Pacuraru said.

Pacuraru admitted the minimum wage is low, but argued it reflected Romania’s economic development.

He said only Bulgaria and Balkan countries have lower minimum wages in Europe. The minimum wage in western countries is of approximately EUR1,300, Pacuraru said.