The Government has approved the Law on the establishment of European minimum wage, which ensures the transposition into national law of Directive (EU) 2022/2041 of 19 October 2022 of the European Parliament and of the Council on adequate minimum wage in the European Union, the Ministry of Labour announced on Friday.According to the cited source, the draft law is to be submitted for adoption by the Romanian Parliament as a matter of urgency.The European minimum wage is also envisaged under the National Recovery and Resilience Plan, Milestone 392, according to which the national gross minimum wage guaranteed for payment will be set on the basis of an objective mechanism based on a clear formula, in consultation with the social partners."The adequacy of this minimum income implies that the wage should not be less than 50% of the gross average wage. In addition, the draft law means strengthening the role of trade unions and employers," said Simona Bucura-Oprescu, minister of Labor and Social SolidarityIt is also envisaged that Directive (EU) 2022/2041 will apply to all categories of employees, regardless of whether they work under an employment relationship, a special employment relationship (agency contract, management contract, sports activity contract, etc.) or a service relationship.The draft law also provides for the adoption of an action plan to promote collective bargaining, to increase employees' access to collectively negotiated wage rights and to protection coverage through collective bargaining or collective agreements.
A memorandum establishing a new stock exchange in the Republic of Moldova was signed on September 15 in Chișinău, with the Bucharest Stock Exchange (BVB) set to play a key role as shareholder and technology partner, according to Bursa.ro. The new Moldovan exchange will run...
The “service pensions”, also known as special pensions, paid to civilians (military not included in the report), cost the state budget and the state social insurance budget a total of RON 2.2 billion in 2024, over 22% more than in 2023,
The Czech company Tesla has officially announced to the government and local authorities that it is abandoning the project to build the energy storage factory in Brăila, an investment of EUR 90 million that was also to receive state aid, according to
Romanian households' purchasing power has deteriorated in July, both as a result of slower nominal advance (+5.2% y/y, the weakest in four years) but also because of a sharp rise in inflation (7.68% y/y) following the VAT rate hike, according to data published by the statistics office INS. The average net wage dropped by 3.0% […]
Romania’s industry showed signs of recovery with the combined May-July output rising 4.0% y/y and the past year’s performance showing an upward trend (+2.9% per year). But the recent improvement data is mixed, and the past year’s trend looks extremely fragile, according to data published by the statistics office INS. The findings are consistent with […]
The Romanian city of Alba Iulia has entered the Guinness World Records after building the world’s longest table made from recycled materials, stretching more than 2.7 kilometers around the historic Alba Carolina Citadel. Organized by Bloom The World and its partners, the event, named Masa Care Unește/The Table That Unites, drew over 10,000 guests from […]
