Will salary increases persist in Belarus?
A Deep Dive into Wage Growth in Belarus
Last week, analysts at the Eurasian Development Bank (EADB) released their latest macro overview, focusing on the surging wage growth in Belarus. Here's a lowdown on their insights and what we can expect going forward.
According to the EADB, real wages in Belarus grew an impressive 10.4% year-on-year in April, following a massive 11.8% increase in March. In the budget sector, this growth hit a staggering 11.3%. The bank attributes this above-average growth to the government's continued commitment to increasing allowances for various categories of workers in the budget sector.
Outside the budget sector, wages keep climbing as well. In a tight labor market, this upward trend persists despite a modest 0.2% rise in employment last month. The number of vacancies, however, is on the rise too.
So, what does the EADB predict for the future? They believe that real wage growth will remain high in 2025. But, as the original data doesn't specify an exact figure, it's best to consult the EADB's official publications or reach out to them directly for the most accurate and up-to-date information.
As we delve deeper into the Belarus labor market, it's clear that wage growth is a hot topic. With the EADB's analysis painting a rosy picture, we can't wait to see how the story unfolds in the coming years. Stay tuned for updates!
[Credit: Mikhail Svetlov, Journalist]
The analysts at the Eurasian Development Bank (EADB) have attributed the high real wage growth in Belarus to the government's continued commitment to increasing allowances in the budget sector, suggesting a potential boost in the finance aspect of business operations. Looking ahead, the EADB predicts that real wage growth will remain high in 2025, offering possible prospects for businesses operating in Belarus.
