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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romania’s average net wage hits new record, EUR 726 in March

The average net wage in Romania rose to RON 3,547 (EUR 726) in March, 7.7% more compared to the same month of 2020, marking a new record even if adjusted for inflation or expressed in foreign currency.

In real terms, deflated by the consumer price inflation, the average net wage rose by 4.5% yoy, while the annual growth rate of the net wage expressed in foreign currency was 6.3% yoy.

However, the net wages in Romania slowed down visibly from the high annual growth rates seen in the past.

In the first quarter of the year, the net average wage increased by only 6.4% yoy - which is 3.3% yoy in real terms, the weakest performance since 2013 except for the second quarter of 2020 (during the lockdown). On the upside, a 3.3% yoy real growth is still robust and likely to support private consumption’s expansion.

For the Q1, the average net wage expressed in euros increased by 4.6% to EUR 704.

The wages in the budgetary sector indeed remained steady (+/- 1%) in the first quarter of the year - in line with the Government’s decision.

In the sectors of public administration, they are already well above the economy-wide average (RON 5,069), in the health sector they rose marginally by 0.5% qoq to RON 4,193 and in education, they remain only slightly above the economy-wide average (RON 3,608).

iulian@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romania’s average net wage hits new record, EUR 726 in March

The average net wage in Romania rose to RON 3,547 (EUR 726) in March, 7.7% more compared to the same month of 2020, marking a new record even if adjusted for inflation or expressed in foreign currency.

In real terms, deflated by the consumer price inflation, the average net wage rose by 4.5% yoy, while the annual growth rate of the net wage expressed in foreign currency was 6.3% yoy.

However, the net wages in Romania slowed down visibly from the high annual growth rates seen in the past.

In the first quarter of the year, the net average wage increased by only 6.4% yoy - which is 3.3% yoy in real terms, the weakest performance since 2013 except for the second quarter of 2020 (during the lockdown). On the upside, a 3.3% yoy real growth is still robust and likely to support private consumption’s expansion.

For the Q1, the average net wage expressed in euros increased by 4.6% to EUR 704.

The wages in the budgetary sector indeed remained steady (+/- 1%) in the first quarter of the year - in line with the Government’s decision.

In the sectors of public administration, they are already well above the economy-wide average (RON 5,069), in the health sector they rose marginally by 0.5% qoq to RON 4,193 and in education, they remain only slightly above the economy-wide average (RON 3,608).

iulian@romania-insider.com

(Photo source: Shutterstock)

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