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Monday, October 24, 2016

Incomes of Russians will continue to fall for two years

Incomes of Russians continue to plummet. According to the forecast of the Analytical credit rating Agency, in the next two years wage growth can be expected.

According to analysts, the stagnation in the public sector of the economy and reduction of pensions will not be able to compensate for a small increase in wages in the private sector. As a result, real incomes will continue to fall until 2018.

“Restrained growth of wages in the private sector in 2016 will not be able to compensate for the stagnation in the public sector, the continuing decline in real pensions, social benefits and other state payments make up about 35% of the total income of the population. The slowdown in inflation and a partial normalization of lending activity is weak support final consumption”, — quotes an extract from the forecast of an ACRE RIA Novosti.

In 2016, incomes will shrink by 4.1%, in 2017 — by 1.1%, in 2018 — by 0.8%. From 2019 there will be a slight increase. The average salary in Russia will grow annually from 36.01 thousand rubles in 2016 to HPP, 42.75 thousand rubles in 2020.

Unemployment in this period will be rather low – high, at 5-6%. “The reduction in employment in manufacturing, construction and electricity kompensiruet its growth in trade and services sector… Structure of employment in the private sector adjusts to new conditions quickly enough,” — noted the authors of the report.



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