IMF urges Belarussian authorities to limit wage growth for two years

The International Monetary Fund recommends that Belarusian authorities limit wage growth for two years at the level of inflation. BelaPAN writes in a statement issued following the results of the work of the IMF mission in Minsk.

The mission visited the capital of Belarus from 5 to 15 November and was studying the macroeconomic situation.

Experts noted that economic growth in Belarus, among other factors, was supported by rapid wage growth. It is growing faster than the growth rate of labor productivity.

"After the current year 's acceleration, wage growth in nominal terms could generally be maintained for two years at a level corresponding to inflation," say IMF experts.

Moreover, as badysts believe, the pressure on inflation in Belarus as a result of rapid wage growth may not yet have occurred.

In 2019, the average salary in Belarus should be at least 1,025 rubles. The salary in the public sector should be at least 80% of the average, ie 820 rubles. This was announced by Prime Minister Sergei Rumas on November 26 following Alexander Lukashenko's report on the country's socio-economic development forecast for 2019.

According to the National Statistics Committee, in October 2018, the average salary in the country increased by 3.7% compared to September and amounted to 999.7 rubles. Real wages (taking into account consumer price inflation for goods and services) in October 2018 compared to October 2017 increased by 13%.

Lukashenko, who on August 18 appointed the new leadership of the government and ministries, said that the order given to the former government to achieve at least 1,000 rubles of the average salary in the country " caused the general panic that it was unacceptable ".

"This is allowed. Even with the course they were trying to get us into Belarus. But how much blood was wasted for (personally, I had to) to convince the government that at least a thousand rubles should have an average salary in the country. What should be tightened this year, the least well-paid layers (nannies in children's gardens, nurses and nannies in hospitals carried with children and with us when we get sick, people of culture, services They need to retire today. Some formulations: "we can not," "we should not," "the course is going to collapse," "the country is going to collapse," "everything is going to collapse," has declared the official chief.