EDB: Household income in Belarus keeps growing at a high rate

Household income in Belarus keeps growing at a high rate, reads the weekly macroeconomic review of the Eurasian Development Bank (EDB), BelTA has learned.

“Real wages went up by 12.3% in August 2024 after a 15.4% rise in July [year-on-year]. Wages are growing at a high pace in all sectors, including the public sector, where real wages increased by 11.8% in August following a 12.7% rise in July,” the review reads.

According to EDB analysts, the base payment rate is expected to be revised upward in September. Teachers’ wages will also increase, which will bolster the wage growth in the public sector and the economy as a whole. The growth in household income, along with an uptick in consumer lending, will help maintain high consumer demand.