Average salary in Belarus below USD 600 for first time in six months

April 22, 2016 19:02

Wages in Belarus dropped for the third consecutive month in 2014. According to the National Statistics Committee, in October 2014, the average monthly wage was BYR 6.377 million (circa USD 599). In the near future, utility tariffs will increase and consumer spending on non-food products will reduce, savings volume will reduce, and the demand for foreign currency will gradually reduce too. However, there will be no significant labour outflow to the neighbouring countries due to the stagnation on the Russian market, which is the largest labour market for migrants from Belarus.