MINSK, 2 September (BelTA) – Household income in Belarus is growing at an accelerated pace, reads the weekly macroeconomic review of the Eurasian Development Bank, BelTA has learned.
“Household income growth in Belarus has gained momentum. Real wages grew by 15.4% in July 2024 following an 11.2% increase in June [year-on-year 2023]. This is the highest growth rate since October 2023,” the review reads.
According to EDB analysts, the growth in nominal wages is driven by high demand for workforce, as well as by increased bonuses for certain categories of public sector employees, which stimulates consumer demand.
“Household income growth in Belarus has gained momentum. Real wages grew by 15.4% in July 2024 following an 11.2% increase in June [year-on-year 2023]. This is the highest growth rate since October 2023,” the review reads.
According to EDB analysts, the growth in nominal wages is driven by high demand for workforce, as well as by increased bonuses for certain categories of public sector employees, which stimulates consumer demand.
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