Romanian central bank official: Employees paid the cost of the crisis

In Romania, the cost of the economic crisis was mainly paid by employees, and this situation was favored by the labor code, which was completely against the interests of employees in that period, said Florin Georgescu, First Deputy Governor of Romania’s National Bank (BNR). In theory, 60-65% of the net national income should be distributed to those who work and 30-35% to those who own the capital, Georgescu added, cited by local Agerpres. In developed countries, the capital owners get 40% and employees receive 60%. In Romania, the situation is reversed. In 2014, over 60% of the net national income went to those who owned the capital and below 40% got to those who worked, the Deputy Governor said. In 2000, the ratio was balanced: 50% for both the capital and the work. However, the crisis cost was transferred to citizens, which led to this imbalance, Georgescu added. In the region, the situation is better. Hungarians get 52% for work, even Bulgarian give almost 48% for work and the Poles - 44%. editor@romania-insider.com