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Analysts: recent salary growth, separated from productivity brought risks in the area of Romania’s competitiveness

The salary growth decided by the government, especially the increase of the minimum salary at the level of the economy is separated from productivity and brought risks for the competitiveness of Romania, so that the National Bank of Romania (BNR)could be inclined to leave ‘ the balance zone’ to go up to 4.50 – 4.60 lei/euro from 4.44- 4.54 lei/euro until now, show the analysts from ING Bank Romania in a report published on Wednesday.

On Wednesday, the exchange rate euro/elur got officially out of the ‘balance interval’ as BNR announced an exchange rate of 4,5512 lei/euro up by 0.3% against the level of the previous meeting and the maximum level of 7 June 2013.

The government increased the minimum salary at the level of the economy with 16% from 1 February from 1,250 lei to 1,450 lei without any study of impact, as the employers’ associations warned that the measure could generate unemployment and bankruptcy especially in the poor counties and in the sectors with less qualified workforce, where the salaries are lower.