• Evidence Based Policy - Macroeconomic Research Center

Belarusians have been living in the conditions of rising wages and incomes for a year now. Before that, incomes, including salaries, have been declining for three years. If we look at the salary fund and the total income of the population, we will see that it was possible to win back only a fifth (20%) of the backlog over the past year. However, judging by the real average salary in rubles and in dollar terms, the level of labor payment approaches its historical maximum, which was observed in August 2013. Of course, it’s still at the market rate of the average wage level, which is below the world average. But even such a level in previous years contributed to creating imbalances in the economy. What will be this time? Will the growth of wages and incomes continue, and if it does, will the balance of the economy remain?

Full article on ekonomika.by

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