Ministry of Economy tells what wages people should expect by the end of the year

According to the results of the year, we expect the real wages to be around 100%. This was stated by Deputy Minister of Economy Dmitri Yaroshevich. In August the real disposable income and real wages and salaries, which is more important, began to recover. In January-August, the nominal wages amounted to 113.7%. According to him, wages will not change in nominal terms, but most likely, will grow. He expects the real wages to reach 100% by the end of the year.

Dmitry Yaroshevich, Deputy Minister of Economy:

“Successful production strategy and export strategy allow the enterprises to feel quite good. Profitability, according to the latest data, was 9% in sales. That is, these are very high results. The net profit is more than 12 billion rubles. And these are the resources that the company can channel into its turnover, just when it needs a little more working capital from the logistics. But it is also a matter of investment: the more own funds an enterprise has, the easier it can afford the investment strategy, modernize their production and maintain the competitiveness.”