Romanian average net income down to RON 2,300 in January 2017

The Romanian average net income, including both the salaries and bonuses, went down by 2.3 percent RON 2,300 in January compared with December, but the annual growth rate has strongly accelerated to 18.4 percent from 11.4 percent, according to the data of the National Institute of Statistics (INS).

The annual growth rate of the salaries registered in January hit a fresh record after November 2008.

In December 2016, the net average income reached RON 2,354, after an increase of 11.4 percent compared with December 2015.

The salaries increase was stimulated by the Government measures, taking into account that starting from May 1 2016 the gross minimum salary increased by 19 percent to RON 1,250. Also the Government increased the the salaries of the state employees, a measure that will continue also in 2017.

Also, the gross minimum salary was hiked from February 1 by 16 percent to RON 1,450.

The official statistics show that in real terms, taking into account the inflation, which was 0.1 percent in January in annual terms, the incomes were higher in January by 18.3 percent compared with January 2016.

„The highest values of the nominal average salaries were registered in tobacco manufacturing (RON 6,467) and the lowest ones on hotels and restaurants (RON 1,299),” shows the INS release.

According to INS, on the second place on the highest salaries was the insurances and pensions sector in January (RON 6,345), followed by IT sector (RON 5,811), editorial activities (RON 5,040), financial intermediaries (RON 4,930) and crude oil and natural gas extraction (RON 4,779).