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).
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