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Wages In Russia Decreased By 40 Percent
May 23, 2016 10:39


(Source: http://gosindex.ru)

The devaluation of the ruble and the economic crisis  led to the fact that the wages of Russians in dollar terms decreased by 40 percent over two years. In 2015, the average salary in Russia was at the level of Belarus and Bulgaria. "Vedomosti" informs about this fact referring to the calculations of the Institute of Social Policy of the Higher School of Economics (HSE).

In addition, in 2013 the average Russian salary in dollars has been one and a half times higher than in China. In 2015 the countries reversed the roles: the wages in China exceeded one and a half times the salary in Russia. The HSE has used two methods of wage assessment. In the first case, it was transferred into US dollars at the exchange rate. According to this method, in 2015 the salary in Russia amounted to 558 dollars per month. This is the level of Kazakhstan (549 dollars), and it is almost by one third more than in Azerbaijan (431 dollar) and in Belarus (415 dollars).

The second method represents the conversion into dollars based on purchasing power parity (PPP). In this case, the fall of wages in Russia makes not 40 percent but seven percent. Nevertheless, the wages in the CIS countries came closer to the Russian level. In 2011 Russia overtook them by 50 per cent and four years later the gap has decreased up to 40 percent, and in Belarus it has completely disappeared.

According to Rosstat in April 2016 the real incomes of Russians dropped by 7.1 percent compared to the same month last year. In nominal terms, the revenue grew by 0.1 percent up to 31,342 rubles. Thus the real wage dropped by 1.7 percent and the nominal wage rose by 5.4 percent up to 36,210 rubles. In January the average salary in Belarus amounted to 6.55 million rubles (21.98 thousand Russian rubles).


Sources: http://lenta.ru 

Author: Anna Dorozhkina

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