The gross monthly minimum wage in Romania will stand at 700 RON, starting on Jan. 1, 2012, up 4.47 percent compared with the 2011 minimum wage, according to a normative act published on Thursday on the website of the Ministry of Labour, Family and Social Protection (MMFPS).
The value of the minimum wage is established for a full working program of 169.333 hours on average per month, in 2012, accounting for 4.13 RON/hour.
According to the substantiation note of the Government Resolution draft document, 790,677 employees will benefit by the increased gross minimum wage, out of which 125,762 are public workers.
At present, the gross minimum wage is 670 RON a month for a full working schedule of 170 hours on average per month in 2011, according to the provisions of the Government Resolution 1193/2010.
According to the substantiation note, MMFPS estimates the macro-economic impact upon inflation will be insignificant following this increase, considering the low share of the employees entering the category of the minimum gross wage and also the fact that the proposed hikes fall into the prognosis on the increase of labour productivity.
At the same time, it is foreseen these hikes shall generate positive effects upon the economic growth, by encouraging employment and reducing illegal labour. AGERPRES
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