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17 May 2023, 11:23

PM: Average wage in Belarus hits a record level

MINSK, 17 May (BelTA) – Average wage in Belarus has reached a record high level, Belarus' Prime Minister Roman Golovchenko said at the Council of Ministers meeting to review the country's socio-economic performance in early 2023, BelTA has learned.

“The overall economic situation is stable, we see a steady progress. The macroeconomic balance has been maintained, the foreign trade surplus in the first quarter is estimated at about $243 million. In January-March this year the export of goods and services amounted to $11.7 billion, the highest in the last ten years,” Roman Golovchenko emphasized.

He added that thanks to the measures taken by the government and the National Bank, the annual inflation dropped to 4.7% in the course of four months this year.

The government fully honors its social security commitments. “Real household incomes have started growing. Real wages grew by almost 2%. In January-March the average wage stood at Br1,731, or $627, which is a record high figure for Belarus,” he added.

The situation with retirement benefits is also improving. “In May, taking into account the latest increase, the average pension will be Br705, up by 21% year-on-year,” Roman Golovchenko said.

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