Russian economic ministry sees real wage growth in some industries

MOSCOW, Nov 25 (PRIME) – Russians' real wages have been growing for three months in a row with the strongest increase registered in finances, real estate, agriculture and industry, the Economic Development Ministry said in a statement Friday citing Deputy Minister Alexei Vedev.

“Real wages have been growing consistently for three months in a row. The largest increase was demonstrated in finances, real estate, agriculture and industries,” he said.

He added that incomes from entrepreneurship and non-formal incomes act as restraining factors.

“Taking into account the improvement in the economy, we may expect improvement of the situation early next year. Our estimates show that the real disposable income will grow by 0.2% under the baseline scenario, while the baseline plus scenario sees them rising 1.2% in the year,” he said.

“Expectations on wages are more optimistic – positive growth of 0.3% as early as in 2016 and an even speedier rise to 0.4% in 2017 under the baseline scenario and to 1.7% under the baseline plus forecast.”

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