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By Q3 2017 household income may exceed that in 2016

August 21, 2017 11:28

In H1 2017, people’s real income decreased by 0.8% as compared with H1 2016. The decrease in the monetary income was due a decrease in income from deposits and a reduction in pensions, while wages increased by 2.3% compared with 2016. Wages are likely to continue to grow, which should have a positive effect on available monetary income, and reduced inflation should improve the dynamics of the indicator. Incomes from deposits would reduce due to the National Bank’s policy aimed to reduce the discount rate, and the deficit in the social protection fund would prevent pensions from growing. Amid the president’s task to increase wages, cash income by the year-end could exceed the level of 2016, provided, that control over consumer prices in the country be preserved.

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