MINSK, 5 November (BelTA) – The average salary of public sector employees will increase to Br921 in 2020, Finance Minister Maksim Yermolovich said at the meeting of Belarusian MPs with Prime Minister Sergei Rumas and government members on 5 November, BelTA has learned.
The nominal average salary of public sector workers in Belarus will rise from Br843 to Br921. “Every public sector employee will get an extra Br78 per month on average,” Maksim Yermolovich said.
About Br15 billion will be needed to maintain public sector salaries at an acceptable level in 2020. “The salary rise in 2020 will require another Br1.8 billion compared with the ongoing year,” he added. The money will be spent, first of all, to increase salaries of the lowest-paid workers. Education and healthcare workers will get a substantial pay rise, too.
“The target of increasing public sector salaries up to 80% of the country's average will be met,” Maksim Yermolovich emphasized.
Moreover, additional funds will be earmarked to maintain retirement benefits at the level of at least 40% of the average salary. About Br2 billion is to be transferred to the social security fund in the form of subventions in 2020. Nearly half of this amount will be used to maintain a balance of the social security fund after the increase in retirement benefits.More about Economy