Friday, 4 July 2014

Ilfov living standards are 105% of EU average

I just came from a meeting with Irish diplomat David Costello, who told me that the standard of living of Ilfov, the county that surrounds Bucharest, is an astonishing 105% of the E.U. average.

Foreign investors, he says, should not pay attention to the average wage statistics in Romania because they take into account the many millions of extremely poor people, the peasants who are impoverished subsistence farmers. David might have added that in any case in the countryside a real cash economy scarcely exists, neighbours barter things and few declare their incomes to the taxman.

David is busy setting up the Romanian-Irish Business Association which will open with a party in September. No doubt that will be good craich.

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