Concurs Salary hikes in the first four months in Romania do not fuel inflation, finance minister says
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Cost of labor force in Romania idled over the first four months of the year as the real labor productivity and the real salary grew 5.8 percent each without fueling inflation, Economy and Finance Minister Varujan Vosganian said.
Last year the real salary grew 12.6 percent against the year before while the real labor productivity grew only 3.6 percent. This explains the surging inflation in 2007.
The number of new employees grew by 100,000 over the first four months of the year versus the same period last year and the number of unemployed decreased by 50,000 people. The net salary hiked 24.9 percent in the first four months of 2008.
The average year-on-year growth of net salaries over the first four months this year stood at 23.3 percent while the nominal hike of the GDP was 26 percent, according to Vosganian.
Vosganian mentioned that Romania proved wrong the international financial institutions that said the country is high-risked and has several vulnerabilities.
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Last year the real salary grew 12.6 percent against the year before while the real labor productivity grew only 3.6 percent. This explains the surging inflation in 2007.
The number of new employees grew by 100,000 over the first four months of the year versus the same period last year and the number of unemployed decreased by 50,000 people. The net salary hiked 24.9 percent in the first four months of 2008.
The average year-on-year growth of net salaries over the first four months this year stood at 23.3 percent while the nominal hike of the GDP was 26 percent, according to Vosganian.
Vosganian mentioned that Romania proved wrong the international financial institutions that said the country is high-risked and has several vulnerabilities.
NewsIn
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