Real wages shrink

April 22, 2016 17:54

The average wage in the country fell down, even calculated by the official rate of the National Bank of Belarus. Nominal wages in the Belarusian rubles in March did not reach the level of December 2010 (1537.2 thousand rubles vs 1595.9 thousand rubles).

Comment

Significant reduction of the living standards will be an additional factor in the growth of social tension and downgrading of the current government. To the moment wages fell by 40% in dollar terms. Depending on the devaluation rate, by the end of the year salaries calculated in U.S. Dollars may be reduced by 3 times.

For instance, please see the table at http://news.tut.by/economics/227586.html

Average wages in March 2011 “calculated at different exchange rates

US Dollar exchange rate                                           Br 1,537,200

3045 *                                                                       505 dollars. 
3130 **                                                                     491 dollars. 
4000                                                                          384 dollars. 
4500                                                                          342 dollars. 
5000                                                                          307 dollars. 
5500                                                                          279 dollars. 
6000                                                                          256 dollars. 
6500                                                                          236 dollars. 
7000                                                                          219 dollars. 
10000                                                                        153 USD.