BNR about the salary increase: the risk is that the government gives with one hand and takes away with two
Adrian Vasilescu, the strategy advisor with the National Bank of Romania (BNR) stated on Sunday that the risk is as regards the increase of salaries in Romania that the government gives with one hand and takes away with two.
A foreign investor analyses three things: laws, institutions and teams, stated on Sunday in a televised show at Digi24 Adrian Vasilescu strategy advisor with the National Bank of Romania.
‘The picture of Romania today shows that the question is not if Romania affords to pay such salaries. The law between the increase of salaries and the increase of productivity is an objective one. The question is if Romania affords to stay with the present income’ stated on Sunday in a televised show with Digi 24 Adrian Vasilescu strategy advisor with BNR.
‘For the GDP calculated per inhabitant for standard parity of the purchase prices we are the 27th, before Bulgaria. We have a GDP of 160 billion which we divide with 19.9 million people, while Ireland divides 214 billion with 4.7 million people and the Netherlands divides 678 billion with 16 million. At present, technology is dominant and hard working comes second. Hard working people who must be stimulated. GDP must be divided according to hard work, as technology is advanced very much.The hourly payment in Romania is last but one before Bulgaria, namely 5.5 euro/work hour against 4.4 euro what Bulgaria pays. In Denmark it is 40 euro’ Vasilescu says.
He says that a change is necessary. ‘ Mugur Isarescu, the BNR governor, said that we cannot afford to be left with these salaries. The highest risk is that one day the government gives with one hand and takes away with two. That is why, the government must press several pedals, not only salaries. What is important is not to slow donw the speed of economic growth. The speed of economy has two factors: speed and sustainability’ the BNR representative said.