Moderate wage growth will persist in Belarus despite reduced labour efficiency

In May 2015, the average monthly wage in Belarus totalled USD 466 – an increase by USD 47.9 compared with January 2015. Wages grew despite the decline in labour efficiency in the Belarusian economy. Wage growth will continue due to the holiday season and mandatory payments for workers’ rehabilitation. Simultaneously, the demand for foreign currency will increase due to the need to acquire currency for recreation outside the country, and the increase in turnover in the retail trade will be negligible. Despite loss-making, state-owned enterprises are likely to receive state aid in order to pay wages to workers. Before elections, layoffs may affect pensioners only.