Wages in Romania up by 15% y/y as of April
The net wages in Romania increased by 15% y/y to RON 4,564 in April. The advance expressed in euros (EUR 925) was 15.2% y/y.
In real terms, net wages in Romania advanced by 3.4% y/y in April and remained for the second month in a row above the level reached in December 2022 when yearend bonuses were paid.
The wages in all economic sectors increased in real terms as of April, except for IT&C (-1.3% y/y), where they were already very high (RON 10,720) in April, some light industry sectors, and in the budgetary sector (education and healthcare). The wages in education and healthcare increased significantly in June after the teachers’ strike.
The overall performance of wages in Romania defies more gloomy expectations for shrinking household incomes with an impact on private consumption. Private consumption remained the main driver of the GDP growth in Q1, and April data shows no fatigue in this regard.
(Photo source: Dreamstime.com)