Real wages in national currency in 2016 may exceed 2015-level

August 31, 2016 15:21
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According to the National Statistics Committee, gross salary in Belarus in July reached BYR 745.8 or 94.7% of that in July 2015. Real wages reduced due to high inflation rate and restricted wage growth in most economic sectors. In the coming months, wages are likely to grow smoothly, which should improve the retail sale situation. The population will be the net seller of foreign currency in order to preserve current consumption levels. Starting from August 2015, wages were falling, which created a low comparative base for 2016. Hence, real wages, adjusted for inflation, may exceed those in 2015 by October-November 2016.

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