Oreshkin expects real wages to grow by 10% yoy in April
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According to the results of April, real wages in Russia will grow by 10% in annual terms, says Maxim Oreshkin, aide to the Russian president. However, inflation at the end of April will be 2.5%, he said.
“The level of income of the population, the level of wages in real terms will grow. For example, this year we are already expecting a very serious growth in real wages: by the end of April, it should be about 10% compared to last year,” said Mr. Oreshkin, speaking at the Knowledge.First marathon.
In addition, according to the assistant to the president, inflation remains low this year: at the end of April it was about 2.5%. “Bank lending continues. It does not now lead to inflationary risks, while supporting consumer demand, demand for real estate, corporate lending,” he added.
April forecasts The Ministry of Economy, according to the results of 2023, wages in real terms, taking into account inflation, will increase by 5.4%, and in nominal terms – by 10.9%. The Ministry of Economy believes that the growth of real wages will be affected by a slowdown in inflation, low unemployment and employers’ competition for labor. At the end of 2022, salaries increased in nominal terms by 12.6%, but, taking into account inflation, decreased by 1%.
More details – in the material “Real wages promised unrealistic growth”.
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