PM Dancila: Romania’s economy, on upward trend and to continue to grow at a high pace

Romania’s economy is on an upward trend and will continue to grow at a high pace, according to the first results published by the National Institute of Statistics regarding the economic activity in March and the first quarter of this year, Prime Minister Viorica Dancila said on Tuesday.

“The National Institute of Statistics released yesterday the first results regarding the economic activity in March and the first quarter of this year. I would like to point out some data that prove that Romania’s economy is on an upward trend and will continue to grow at a high pace. Industrial turnover increased by 4.6 percent in March as compared to the same month last year, which resulted in the 6.6 percent increase of this indicator relevant for the sustainability of economic growth in the first quarter of the year. In March, the average net salary exceeded 3,000 lei and the average gross wage exceeded 5,000 lei, which means that Romanians earn an average by 13.5 percent more than in the same month last year and by 50 percent more as compared to March 2016. It is also important that these wage increases are recorded in both the public sector and the private sector, which shows that the economy is going well and that the measures taken by the government have produced the results expected by the citizens,” the prime minister said at the beginning of the Executive meeting.

Significant increases were recorded in the construction sector, where the minimum wage was set, according to the agreement concluded between the Government of Romania and the employers’ association in constructions, at RON 3,000 lei, added Premier Dancila.

“In the first three months of this year, the net average earnings increased by 32.2 percent. There are figures showing that Romanians are earning ever higher revenues as a result of the implementation of the governing program,” she added.

The Romanian prime minister pointed out that the “pessimistic estimates” and “alarmist comments” of some representatives of the Opposition regarding the economic evolution of Romania are denied both by the official figures and by the institutions with credibility in the field.

“Recently, Fitch has recommended Romania’s country rating and stable outlook, after another prestigious agency – Standard & Poor’s – made a similar decision in March. These are important confirmations in the government’s effort to ensure macroeconomic stability, with an impact on the increase of the investors’ level of confidence in the Romanian economy and in the competitiveness of companies with Romanian capital,” Prime Minister Dancila further stated.

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