Economy Ministry Plans to Raise Minimum Wages to $150

20.10.2010 15:51
Архив Редакция

Deputy Economy Minister of Belarus Andrei Tur said on October 20 that the minimum wage will increase to Br450 thousand ($150) since January 2011. However, the deputy minister stressed that it would depend on the macroeconomic situation prevailing at the end of the year. 

«The way the income and tariff rates growth to affect the macroeconomic situation on the whole is very important. But such plans exist,» Tur said.

According to him, the GDP is growing much faster in 2010 than it was planned. Thus, GDP growth was recorded at 106.6% rate over three quarters of this year. According to Andrei Tur, this provides an opportunity to raise the minimum wages as well. «Now it is possible to raise wages faster than productivity increases,» the deputy minister of economy noted.

As Telegraf previously reported, the minimum wage is likely to increase in November this year. The corresponding decree was signed by President of Belarus Alexander Lukashenko on September 27. The minimum wage will increase by 54.7% to Br400 thousand since November. Hourly minimum wage will also increase by 54.2% to Br2.3 thousand.

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