The minimum statutory wage (gross) in Romania will increase from RON 3,000 (EUR 600) to “at least RON 3,300 (EUR 660)” as of October 1, the minister of European projects and investments, Adrian Caciu, confirmed.

In the sector of construction, the minimum wage will increase from RON 4,000 (EUR 800) to RON 4,500 (EUR 900), he said, quoted by Bursa.ro.

Besides increasing the incomes of over 2 million employees (40% of the total) directly and of others indirectly, the move will likely boost the budget revenues (social security contributions, income tax) and will generate inflationary pressures.

The minimum statutory wage previously increased in January 2023 by 17.6% – just above the 16.4% inflation in 2022. This year, the inflation is expected at 7%-8% after reaching 4.9% YTD in January-August.

iulian@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)