Over 200,000 Romanians left the country last year.
Companies have been forced to raise wages in recent years to retain some of their employees, due to a growing staff shortage.
Some EUR 1.7-2 billion would have entered the local consumption if all the 200,000 Romanians stayed in the country and earned the gross average wage in the economy, namely EUR 730 per month, reports local Ziarul Financiar. Although wages have increased, external migration has not slowed down.
Romania’s National Bank (BNR) Governor Mugur Isarescu said in April that the situation in the labor market inevitably leads to wage growth. Given the migration of the labor force and the labor shortage in many sectors, salary increases are inevitable, he explained.