Economists: Real wages in Belarus has not grown, but even decreased

Even if dollar won’t grow, the real wages would come down anyway.

Some economists predict that dollar’s rate of exchange could go up as early as on January 2, 2011, and consequently, the average salary in the country would be far less than the notorious 500 US dollars.

“And the prices have already responded to salaries hike. The real wages in some industries have not gone up, but have been even cut. Even in case the dollar won’t grow, the real wages are to go down anyway,” said Doctor of Economics, Financial Loan Department Chairman Barys Zhaliba.

Barys Zhaliba reminds that inflation has certain season trends. The month with lowest inflation is August, when crop is gathered, fruits and vegetables become cheap, and it influences the general index of prices; and by the end of the year inflation lifts up its head.

“Firstly, bonuses are paid in the run-up to the holiday, and prices react to that. This year the pre-election salaries increase makes the situation with inflation even more pronounced. Real wages can do down seriously in January 2011,” the expert explains.

According to the economist, it would be very difficult to maintain the salaries even at the level of $460-500. Another reason for that is that this year profits of the economy have dropped considerably, especially the profits from foreign economic activities.

“While last year was considered the bottom of the crisis by us, over the 9 months of this year 9 our enterprises have found missing 1 billion dollars of profit from export as compared to the analogous period of the crisis year, 2009,” the economist stated.