1887

2022 OECD Economic Surveys: Romania 2022

image of OECD Economic Surveys: Romania 2022

Over the last two decades, Romania has converged rapidly towards the OECD average income per capita. Its economy has also proved resilient: after a deep contraction in 2020 triggered by the coronavirus pandemic, activity has rebounded fast. However, short and medium term challenges remain. The recent surge in inflation and the new pandemic wave require prudent macroeconomic policies. Eventually, fiscal sustainability needs to improve to cope with ageing. Productivity levels remain well below the OECD average, calling for reducing competition barriers, raising human capital, enhancing the regulatory framework, and improving transport infrastructure. Romania should seize the opportunity provided by the NextGeneration EU plan to boost investments for the green and digital transitions. Poverty remains high and some groups have difficulties to join the labour market. Active labour market policies need to be reinforced and access to training is a pre-requisite for addressing skills shortages. Finally, pursuing convergence to the highest OECD standards requires improving the rule of law and fighting corruption.

SPECIAL FEATURES: STRENGTHENING THE BUSINESS ENVIRONMENT FOR PRODUCTIVITY CONVERGENCE; IMPROVING LABOUR MARKET CONDITIONS FOR STRONGER AND INCLUSIVE GROWTH

English

The minimum wage has converged to the median wage

Minimum wage relative to median earnings of full time workers, 2019

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error