Loading ...Romania’s Central Bank (BNR) is not counter to a rise in salaries. We could even say the opposite. A swift rise in salaries is good for the Romanian economy, for the living standards to be high, BNR governor Mugur Isarescu said in a speech, at the Romanian Academy, on Problems of real convergence in its road to euro.
“But we have to be lucid and to clearly say that a rise in salaries higher than the rise in productivity is not sustainable. A rise in salaries swifter than that in productivity does not lead to higher living standards, on the contrary, it leads to lower living standards, the difference between the 2 basic indicators is broken sooner or later, because of the high rise in prices, the depreciation of the Romanian currency, higher foreign debt. All this negatively influence investment, and, so, it delays, instead to speed up, real convergence in the economy,“ Isarescu warned.
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