USD 500 monthly wage is unlikely in 2017 in Belarus due to economic slowdown

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March 27, 2017 11:58

According to Belstat, in February 2017, the average wage in Belarus totalled USD 378 and increased by USD 8 as compared with January. In national currency, wages have decreased in February, as compared with January, for the first time in the last six years due to negative trends in the economy and the decline in GDP by 1% in February 2017 as compared with February 2016. Amid statements about the need to employ all unemployed citizens, employment in the economy is likely to increase, state enterprises are likely to increase part-time employment by temporarily hiring unemployed, many enterprises are likely to reduce working days, hence the average wage would increase, but unlikely to reach USD 500 in 2017. The state has limited financial resources to inflate the economy and increase people’s incomes. The existing economic model is incapable of overcoming the recession, which means, wages are unlikely to grow.

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