Wages in our country, according to Rosstat, constantly grow, but real incomes fall for the fourth consecutive year. According to the international rating Agency Fitch, the purchasing power of Russian salaries are significantly behind the European wages: 2.5 times — from German and 30% — from Lithuania.
In the report, Fitch noted both positive and negative trends. On the one hand, the proportion of the population, the income level which differs very little from the subsistence minimum decreased: if in 2013 the number of Russians who earn less than 15 thousand rubles per month accounted for about 38%, their number hardly exceeds 29%.
On the other hand, since 2013, the real incomes of Russians (that is, the amount that you can afford to pay for the goods and services after taxes and adjusted for inflation) decreased by 11%. The fall of this indicator slowed down, however, the “minus” and is now quite significant — 1.2% in the first three quarters of 2017.
If you evaluate the Russian salaries based on purchasing power parity (PPP — the ratio of different currencies of the possibility of acquiring a certain set of goods and services), they essentially lose European counterparts.
Meanwhile, the head of the Ministry Maxim Oreshkin, reports on new developments: the growth of real wages in Russia this year will amount to 3% in 2018 — 4%. According to the Minister, the government has set a goal to achieve annual growth of Russian salaries by 10%.
As suggested by a senior analyst “Alpari” Roman Tkachuk, when comparing the wages in Russia and in Europe, we must remember that in our country a significant proportion of the informal sector. In addition, in Russia there is a strong variation in the level of salaries. In the capital the average wage is around 92 thousand rubles (taking into account the high salaries of representatives locality and managers of large corporations). In the province many have to settle for minimum wage – 7.8 thousand rubles.
“The increase in payroll, you can direct the profit from the export of hydrocarbons. However, the Finance Ministry prefers to spend each day 5.8 billion rubles to purchase foreign currency to Supplement the dollar “safety cushion”. So count on the growth of real wages by 10% a year we don’t have in 10-15 years”, — says Roman Tkachuk.
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