Average salary in Romania to reach 3,000 lei in 4 yrs, finance minister estimates

The average gross salary could hit 3,000 lei in the next four years if the gross domestic product continues to grow at the same pace, according to the estimates of Romania's finance minister, Varujan Vosganian.

The average pension is gauged to stand at 1,250-1,300 lei in 2012, Vosganian said today while visiting the western county of Timis. The net average wage in Romania increased 24.4 percent year-on-year in June, on significant advance of salaries in the industrial sector and services.

The target is to get close to the seventh position among the EU's economic powers, the minister said, adding the GDP is forecast to hike from a current 135 billion euros to 220 billion euros. In four years the GDP per capita will stand at 10,000 euros, he added.

The GDP advance is feasible, Vosganian said, adding it will be fueled by the government's future investments, foreign direct investments, European funds and the hikes of share capitals in the banking and the insurance systems.

Last year investments from the public budget stood at 15 percent and they will rise this year to 18 percent and next year to 20 percent, the minister said. Further estimates point to 30 billion euros public money to be invested from 2009 to 2012, plus 30-40 billion euros other investments and 25 billion euros European funds.

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