Core Facts
- Population: 19.3M
- GDP: USD 178 billion
- GDP per head: USD 9,530
- Workforce: 4.8M
- Unemployment (2017): 5.3%
- Average monthly wages (2017): USD 795
Regulatory
- Government debt: 37.6% of GDP
- Personal income tax: 16 %
- Corporation tax: 16%
- World corruption ranking 2016: 57th Transparency International
- Ease of doing business ranking: 36th Business Freedom Index
- Labour law: ILO Conventions ratified
- Data protection: Member of the EU and so recognised as having adequate protection
The Romanian Labour Code governs the relationship of all employment within Romania, regardless of the nationality of the employer or employee. It also covers Romanian citizens that work abroad. Individual employment contracts must be registered with the Employees’ General Register at the Office of the Labour Inspectorate.
Collective bargaining is commonplace and employers with 20 or more employees are required to negotiate a collective bargaining agreement. The Labour Code is generally modified every year by the publication of the government approved National Collective Labour Agreement.
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