Is Mugur Isărescu working pro-bono at the NBR?

NBR governor Mugur Isărescu and the other members of the Board of Directors have not forgotten to file their wealth statements for the year 2015, in fact, they have even mentioned out the positions they hold with the institution, but they omitted to fill out their salaries.

Since we are acting in good faith, we understand that Mugur Isărescu and the other NBR board members have fulfilled their legal obligation to file their wealth statements, to mention the positions they hold with the NBR, but, by reading the documents, signed by each of them, we notice that they are not getting paid a salary for the positions they hold with the NBR.

Article 55 of the Fiscal Code stipulates that are considered salary incomes all incomes in the form of money and/or in kind obtained by a natural person based on an individual labor contract or a special status stipulated by the law, regardless of the period they apply to, the name of the income or the form that they are granted in.

According to the Fiscal Code, the taxation rules for salaries also apply to compensations set by law which are earned for holding a public office.

Each wealth statement has the following sentence at the end: "The present statement represents a public document and its authors are liable according to the criminal legislation in the event of providing incomplete or inaccurate data".

Had the NBR concluded any deal with an institution of the Romanian state to allow the members of its management not to disclose their salaries, that would have needed to be mentioned in the wealth statement and confirmed by the respective institution, which should have granted equal treatment to other people as well.

If we do not make the inference that the NBR officials are breaking the law, we can infer that Mugur Isărescu and the other members of the Board of Directors of the NBR are working pro-bono at the Central Bank.

• 12,405 lei - the average gross monthly salary at the NBR in 2014

The average gross monthly salary at the NBR, in 2014, was 12,405 lei/month, according to our calculations based on the information published by the Central Bank in its annual report. The staff expenses of the NBR amounted to 277.33 million lei in 2014, compared to 258.564 million lei in 2013, according to the 2014 Annual Report of the NBR, which also states that on December 31st, 2014, the number of employees in the National Bank of Romania was 1863.