Romanian Econ Min-Owned Cos To Hike salaries By 5% in 2009

The gross salaries of the employees with 26 companies owned by the Romanian Economy Minister will increase by 5% in 2009, to cover the projected inflation rate.

The salary increases are based on the expected productivity growth, according to the grounding note on the Government Decision draft adopting the companies' budgets.

The international financial crisis and labor conflicts on salary bonuses and wage funds mainly hindered the approval of the 2009 budgets of the companies owned by the Romanian Economy Minister, secretary of state Tudor Serban said Monday.

He added the salary hikes in Economy Ministry-owned companies will not exceed the inflation rate and will only be granted to the companies that turned profit in 2008, such as Transelectrica, Nuclearelectrica, Romgaz, Transgaz or Hidroelectrica

Mediafax