Radio România Internațional

Tag: incomes

  • Incomes and expenses in Romanian households

    Incomes and expenses in Romanian households

    Household spending in Romania increased in the third quarter of last year.

     

    In the third quarter of last year, a household in Romania had an average total monthly income of 8,255 lei, equivalent to about 1,650 euros, up 0.5% per household compared to the second quarter of the same year. According to the National Institute of Statistics, calculated for a single person, average monthly incomes were almost 3,300 lei, by 0.7% higher. Compared, this time, with the third quarter of the previous year, the average total monthly incomes of a household and those of a single person increased by just over 13%. Of the 8,255 lei earned in a family, last year, in the third quarter, most were spent. Higher by 9% compared to the previous year, the average monthly total expenses represented, in total, 85% of income.

     

    In 2024, an increase in the purchasing power of the population was recorded, according to financial analyst Adrian Codirlaşu, who explains why inflation is perceived as higher than the statistics indicate: ʺWe see an increase in expenses higher than inflation. It is true, there is also a volume component, because, as income increased, a larger quantity was purchased ; ideally it would be possible to separate the volume part from the price increase part. But it is possible that certain things that are part of the expenses are not included in inflation and that is why inflation is actually felt much stronger than it is in reality. In principle, the shares remained relatively similar to the previous period.ʺ

     

    The most important source of Romanians’ income was salaries and other salary rights, followed by those from social benefits, pensions,  unemployment or social assistance. In an urban household, the average total monthly income was 1.3 times higher than in rural areas, and, calculated for a single person, 1.5 times higher.

     

    Most expenses in the third quarter were incurred by the consumption of agri-food products, non-alcoholic beverages and non-food products, for the payment of utility bills, taxes, contributions, dues or fees, but also for the purchase of clothing and footwear. The lowest level of average monthly expenses of households in Romania was the one made for education. ʺ85% of incomes go to taxes and expenses,ʺ  the Bucharest press reports, concluding, ironically, that ʺRomanians have higher incomes, but spend almost everything.ʺ

     

     

  • Bucharest – the most affordable European capital to live in, study finds

    Bucharest – the most affordable European capital to live in, study finds

    A new research looked at Europe’s capital cities, ranking them based on the affordability of 8 living costs, including rent, utilities and travel. Bucharest was found to be the most affordable European capital to live in.

     

     

    Personal finance experts at Finansvalp gathered data from the cost-of-living website Numbeo to create their affordability index, which included every European capital city, scored out of 100 based on 8 factors.

     

     

    The factors in the index include the monthly cost of renting a one-bedroom apartment outside the city centre, electricity and water bills, monthly mobile phone and broadband plans, fitness club fees, a travel pass and the price of a meal out for two. These expenses were measured against the average monthly net salary for a person living in each city.

     

     

    In light of these factors, Bucharest, Romania, was found to be the most affordable European capital city to live in, scoring 59.69 out of 100. Next in the list come Chisinau and San Marino.

     

     

    The study found that residents in Bucharest pay around 34% of their monthly incomes (on average £1,098.50 after tax) on accommodation. The average rent for a one-bedroom apartment outside of the city centre was found to be £375.15.

     

     

    Another £164.57 a month is spent on household bills and £120.69 goes on lifestyle expenses, such as dining out, fitness and travel passes. This means residents are left with around £438.09 each month in disposable income.

     

     

    The second most affordable capital city in Europe is Chisinau, Moldova, scoring 56.40 out of 100,  followed by San Marino, with a score of 54.53 out of 100.

     

     

    The 10 most affordable European capital cities to live in

    Rank Capital city Country Affordability Score / 100
    1. Bucharest Romania 59.69
    2. Chisinau Moldova 56.40
    3. San Marino San Marino 54.43
    4. Vilnius Lithuania 53.68
    5. Vaduz Liechtenstein 53.19
    6. Warsaw Poland 53.10
    7. Helsinki Finland 53.00
    8. Skopje North Macedonia 52.98
    9. Budapest Hungary 52.75
    10. Madrid Spain 52.03

     

     

    At the opposite pole, the study revealed that the most expensive European capital to live in is London, England, which scored 41.04 out of 100. Average incomes in the English capital are around £4,169.68 after tax, with nearly half of that (49.5%) going on rent (£2,064.91 for a one-bedroom apartment).

     

     

    The second-costliest capital city is Monte Carlo, Monaco, with a score of 41.23 out of 100, while Dublin, Ireland, which scored 42.24 out of 100, comes third.

     

     

    Speaking on the findings, Olle Pettersson, CEO of Finansvalp, said:

     

     

    “Living in Europe’s capital cities can be a financial tightrope, requiring strategic budgeting and savvy decision-making to thrive in a cosmopolitan lifestyle.

     

    “As such, understanding the financial landscapes of European capitals is crucial for individuals, which is why our data experts have analysed the living factors driving costs.

     

    “We hope this will empower locals and emigrants alike to make informed choices about their finances and lifestyles in an increasingly interconnected world.”

     

     

    Credits: https://finansvalp.se

     Sources: Numbeo

     

  • June 26, 2022 UPDATE

    June 26, 2022 UPDATE

    FLAG DAY Events were organised in county capitals and in Romanian
    localities hosting military units, to celebrate National Flag Day on the 26th
    June. The National Flag Day was introduced to mark the day in 1848 when the
    revolutionary government proclaimed the red, yellow and blue flag as the
    national colours of all Romanians. The National Flag Day was introduced under a
    1998 law.


    MOLDOVA Russia’s ex-president and PM Dmitri Medvedev threatens that
    the Republic of Moldova will see its natural gas supplies cut and exports of
    agri-food products to the Russian market banned, if Chişinău joins the West’s
    economic sanctions against Moscow. Medvedev, currently the vice-president of
    the Security Council, posted on his Telegram channel an extensive article on
    the Republic of Moldova, which Thursday was recognised as an EU candidate country.
    According to Radio Romania’s correspondent in Moscow, Medvedev says the
    accession process may take decades, which makes Moldova’s annexation by Romania
    an easier option. And, Medvedev argues, both Bucharest and Chişinău are making
    efforts in this respect. The Romanian foreign ministry says Dmitri Medvedev’s
    statements are part of Kremlin’s already known false rhetoric, disseminated in
    the Republic of Moldova both before, and after the illegal, unjustified and
    unprovoked aggression of Russia against Ukraine.


    FESTIVAL The Sibiu International Theatre Festival continues in central
    Romania until the 3rd July. This year’s motto is Beauty. This 29th
    edition of the festival brings together artists from around the world in
    theatre, dance, cinema, musical, opera and circus performances. Concerts, book
    shows and exhibitions are also organized as part of the festival. Some of the
    performances taking place in cultural or unconventional venues can be watched
    on the Festival’s official website, digital streaming platform www.scena-digitala.ro,
    and on the event’s official Facebook page and YouTube channel.


    INCOMES The average monthly income per household in Romania was
    nearly EUR 1,100 in 2021, up 8.9% since the previous year, according to the
    National Statistics Institute. The total incomes were 3.6 times higher in
    households whose members are higher-education graduates. Also, families in the
    35-49 year bracket earned the most, while in terms of geographic regions the
    highest incomes were reported in Bucharest-Ilfov (south), and the lowest in the
    north-east of the country.


    G7 The group of 7 rich democracies announced a ban on Russian gold
    imports, during a summit held on Sunday, in the context of the war in Ukraine
    and its impact on the energy and grains markets. According to Reuters, this
    adds to sanctions already introduced against Moscow after Russia invaded
    Ukraine at the end of February. The new measures will directly affect Russian
    oligarchs and strike at the heart of Putin’s war machine, the
    British PM Boris Johnson said. We need to starve the Putin regime of its
    funding. The UK and our allies are doing just that, Mr. Johnson added.


    TENNIS The Romanian player Simona Halep, no 19 WTA and former
    world leader, will take on the Czech Republic’s Karolina Muchova (82 WTA), in
    the first round of the Wimbledon tournament. Halep, winner of the Wimbledon trophy
    in 2019, is seed no. 16 this year in the competition. Another Romanian player,
    Sorana Cîrstea, 32 WTA and seed no. 21, plays against Aleksandra Krunic of
    Serbia (53 WTA). Gabriela Ruse (55 WTA) has the most difficult match in the All
    England Club first round, against the American Coco Gauff, no. 12 in the world.
    Irina Begu (43 WTA) is facing Ekaterine Gorgodze of Georgia (112 WTA), in the
    same round, while Ana Bogdan (109 WTA) plays against Ukraine’s Dayana Yastremska
    (74 WTA), and Irina Bara (121 WTA) against Chloe Paquet of France (101 WTA). In
    turn, Mihaela Buzărnescu (126 WTA) will play against Natasja Schunk of Germany (156
    WTA). This year’s Wimbledon tournament has record-large amounts in prize money
    (over GBP 40 million) but the WTA and ATP announced they will not assign any
    points, after the British organisers decided to bar Russian and Belarusian
    players from taking part, in response to Russia’s invasion of Ukraine. (AMP)

  • September 16, 2019 UPDATE

    September 16, 2019 UPDATE

    IAEA The Romanian Foreign Minister, Ramona Mănescu, took part on Monday in Vienna in the opening of the General Conference of the International Atomic Energy Agency. On the sidelines of the meeting, the Romanian official had talks with her new Swedish counterpart, Ann Linde. The discussion focused on ways to strengthen bilateral ties and the cooperation at EU level, considering that the 2 countries have similar concerns regarding the eastern neighbourhood. Both parties emphasised the willingness to use their shared views on a number of topics in order to strengthen bilateral political dialogue. Ramona Mănescu also lobbied for the Romanian candidate for director general of the IAEA, ambassador Cornel Feruţă, the interim director of the Agency. The General Conference is the highest decision making body of the International Atomic Energy Agency and has convened every year, since 1957, to analyse and approve the budget and programme of the institution. Decisions are also made with respect to issues of interest to the member states and the international community.



    VESSEL The Romanian training ship Mircea is conducting a training programme on the Danube until September 23, to conclude the series of events devoted to the celebration of 80 years since the vessel became part of the Romanian Navy. Marines are inviting the public in 3 Danube ports on board the ship that has sailed more than 300,000 miles, that is 14 times the length of the Equator. On Sunday, the Mircea was in Tulcea, on Tuesday it will reach Galaţi, and on Thursday it is scheduled to arrive in Brăila.




    INCOMES Romania sees the widest gaps in the EU between the smallest and highest incomes of its citizens, with the incomes of the 10% richest Romanians being almost 6 times higher than those of the poorest 10%, reads a recent survey. For the EU as a whole, the ratio is 3.76. In the Czech Republic and Slovakia, the ratio is 2.83%, in Slovenia – 2.96%, in Finland – 3%, in Bulgaria – 5.22%, in Latvia – 5.29% and in Lithuania – 5.5%. According to the document, the 10% of the Romanians with the highest incomes make over 6,928 euro per year, whereas the 10% with the smallest incomes earn maximum 1,189 euro per year, i.e. 3.25 euro per day.


    (translated by: Ana-Maria Popescu)