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Wage hike in Belarus to continue putting proinflation pressure — Eurasian Development Bank

Real wage growth amounted to 13.7% in February following 11.8% in January, the development institution noted

MINSK, April 1. /TASS/. Experts of the Eurasian Development Bank (EDB) suggest that acceleration of wage growth in Belarus will continue putting proinflation pressure.

"The wage growth has accelerated in Belarus. Wages are growing amid increased demand for workforce coupled with continuing reduction of the number of employed in the economy (-1% year-on-year in February)," according to the weekly review by EDB’s analysts. "High growth of wages will continue putting proinflation pressure on prices," analysts said.

Real wage growth amounted to 13.7% in February following 11.8% in January, the development institution noted. This February average pay in the republic totaled 2,025.7 Belarusian rubles (around $623). Annual inflation equaled 5.6$ in February, while during the month it accelerated by 0.9%.

According to parameters of the republic’s socio-economic development outlook for 2024, inflation is expected to reach 6%.

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