Prognosis: Romanian workers will earn 1.3% less than in November 2008

National Prognosis Commission (CNP) estimates an average gross salary of 1,820 lei, up 5.8% compared to the median of gross salaries in 2008, and 1.3% lower than the average gross salary calculated by INS for November 2008.

After-tax average salary in 2009 – 1,352

National Prognosis Commission said the average pre-tax incomes will be equivalent to 1,820 lei, up 5.8% from 1,720 lei, the median calculated for 2008.

This year’s revenues are thus 1.3% lower compared to 1,844 lei in November 2008, according to INS study.

However, after-tax medium income for 2009 is predicted to rise 6.3%, up to 1,352, from 1,272 lei estimated in 2008.

After-tax medium incomes estimated for this year by CNP, are thus 0.66% lower than the average net income calculated by INS for November 2008, of 1,361 lei.

CNP experts expect the gross average salary to reach 1,693 lei, 5.8% higher than average gross salary in 2008, of 1,600 lei.

The annual salary growth rate outpaced the labor productivity in industrial sector, although the central bank warned repeatedly that maintaining a growth pace of salaries above the labor productivity rate will drive wide off-balances in economy and will exert enormous pressure on inflation.

Prediction for leu vs euro exchange rate

National currency is expected to continue its downtrend versus euro, most likely to a 4.31 lei/euro rate in 2013, according to CNP study, NewsIn informs.

The predictions are, however, different from those published in November 28 2008, when CNP estimated a progressive appreciation of the local currency from 3.60 lei/euro in 2009, up to 3.30 lei/euro in 2013.

In the Monday’s projections, the currency exchange rate is estimated at 4.09 lei/euro in 2010, 4.17 lei/euro in 2011 and 4.24 lei/euro 2012.

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