The hourly labour cost has risen by 3.4% in the EU and 2.9% in the euro area, in Q3 2022, as compared to the similar period of 2021, show the data published on Monday by the European Office for Statistics (Eurostat).Between July and September 2022, as compared to the Q3 2021, the most significant annual advance was reported in Hungary (16.6%) and Bulgaria (16.3%) while other four EU member states reported growth of over 10%: Lithuania (13.9%), Poland (13.3%), Greece (11.6%) and Romania (10.9%). Hourly labor costs include wage costs and non-wage costs, such as social contributions paid by employers. In Romania, wage costs recorded an annual increase of 1.9% between July and September 2022, and non-wage costs an annual advance of 10.9%. In the European Union, wage costs recorded an annual increase of 2.8% in the third quarter of 2022 and non-wage costs an annual advance of 5.3%. In Q2 2022, the advance of labour costs in Romania is due to the increase by 13.5% of the hourly labour cost in the domain of business, while in the non-business domain there was an advance of 4.6%. As for the sectors in the economy, in Romania the hourly labour cost increased by 13.8% in services, by 13.5% in industry and by 11.5% in constructions.
The foreign exchange reserves of the National Bank of Romania, or BNR, totaled EUR 58.281 billion at the end of June 2025, up by 4.71% compared to May 31, 2025. During the month of June, there were inflows of EUR 6.1 billion, representing changes in foreign currency minimum reserves established by credit institutions at the […]
Maib, the largest bank in the Republic of Moldova, has established a strategic partnership with Tuum, a next-generation core banking platform from Estonia, to obtain a fully digital presence for retail customers in Romania. Tuum’s core banking platform will serve as the foundation for Maib’s greenfield operations in Romania. “Maib’s decision to collaborate with Tuum […]
The Romanian government officially launched the 12th edition of its Official Internship Program on July 1, welcoming a new cohort of 150 young interns selected from more than 1,900 applicants. Over the next two months, the interns will be hosted by 26 government institutions, where they will gain hands-on experience in public administration. The program […]
The cogeneration plant on the Petromidia Năvodari platform, the flagship project of the Kazakh-Romanian Energy Investment Fund (KREIF), has entered its final testing phase and is expected to be fully integrated with the Petromidia refinery and Romania’s National Energy System - NES by the end of August. Developed through Rompetrol Energy, a KREIF subsidiary, the […]
More than 108,000 Romanian households changed their electricity providers in June, just before the country returned to a liberalized energy market, according to George Niculescu, president of the National Energy Regulatory Authority (ANRE). “Today, after more than three and a half years, we return to a free electricity market - a market for the consumer! […]
The Romanian Constitutional Court (CCR) has reinstated Traian Băsescu’s rights as a former president, granting him lifelong state benefits, including a monthly allowance, protocol residence, and permanent security. The court ruled unanimously that a 2001 law, which stripped former presidents of these privileges if found to have collaborated with the communist-era Securitate, is unconstitutional, Biziday.ro...
