The growth of salaries of Russians called the cause of slow GDP growth

Russian salaries are rising more rapidly than productivity in the country, which could lead to increased inflation and slowing GDP growth. On Monday, August 21, the newspaper “Izvestia”, citing the press service of the Bank of Russia.

Indicates that there are concerned about the shortage of personnel in the country. It is noted that in Russia there is a shortage of doctors, teachers, programmers, and highly skilled workers.

According to experts, the workforce deficit can accelerate inflation by 0.5 percentage points, and the pace of economic growth in Russia may slow down by one percentage point.

“According to Rosstat, labour productivity in Russia since 2009, growing approximately two times slower than the real wages of the population. The only exception was the year 2015, when real wages declined by 9.1% and labour productivity by 2.2 percent,” — recalls the material.

August 17 it became known that average monthly salary in Russia in July rose in annual terms by 8.6 percent to 39355 rubles. While real disposable incomes of Russians in July 2017 fell by 0.9 percent in annual terms since the beginning of the year, they decreased by 1.4%. In comparison with June, real income in July fell by 3.1 percent, according to Rosstat.