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Petroleum industry employees' wages up 42% in H1

08.08.2006, 19:05 16

The employees in the petroleum industry (extraction operations) witnessed the highest wage increase rate of all the employees in the economy in the first six months of the year, to an average net monthly wage of 432 euros. On the other hand, the best-paid employees remain those working in banks, who made 762 euros in net salary in the first half on the average, the data published by the National Statistics Institute yesterday show. "The salary increase in the banking sector has kind of lost momentum," Florin Cirtu, chief economist with ING Bank Romania says. Salaries in banks went up approximately 50% in euros last year, yet Cirtu says such a growth pace cannot possibly be sustained any more. Programmers and employees in the energy industry (petroleum refining, coal processing, nuclear fuels) got up to 30% and 29% raises in the first half, compared with the same time in 2005, to 354 and 467 euros (net monthly average). The increase in wages in the half-year for the entire economy stood at 19% (15% in RON), with the average net wage amounting to 232 euros/month. "Most economy sectors have caught up in terms of wage increase lately," Citu says. Budget-paid employees sneaked into the top ten ranking, as well, with over 20% wage raises in euros in the first six months. Public servants got 24% higher salaries in euros than in the same time of last year, 365 euros. Public administration employees got almost 60% higher salaries than the average of the entire economy in the six months ended June 30. Raises in the education and health care sectors amounted to 21% in euros (17% in RON), with the average monthly net salary reaching 269 and 219 euros respectively.

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