Official: Real income of public employees to restore after 2020

MOSCOW, Nov 20 (PRIME) – Russians’ real disposable income fell 10% in 2014–2016 and may remain flat in 2017, while income of public-sector employees will restore to the pre-crisis level only after 2020, Andrei Klepach, chief economist and a deputy CEO of state development bank Vnesheconombank (VEB), said on Monday at a panel of the United Russia ruling party.

“If we take what we've included into the budget, I mean the macroeconomic forecast that the (parliament’s lower house) State Duma has partially approved, we see that the real disposable income of public-sector employees will restore to the pre-crisis level after 2020,” he said.

Over the previous three years, the real disposable income contracted 10%.

“So far, we also see a decrease this year, but I think we will reach zero dynamics or close to zero. Still, this is a colossal failure, comparable to what we had in 1992,” he said.

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