Growing on Consumption
In Russia, the average wage reached 12,700 rubles in May, and the revenues stepped up 12 percent vs. May 2006, according to Russia’s Statistics Service. But the rate of salary increase was behind the retail, which soared by record 14.6 percent in the last month of the spring.
The living standards of nation are improving from month to month, signaled the data of Russia’s Statistics Service. In May 2007, for instance, the wages averaged 12,744 rubles, 25.1 percent above May 2006, while the real revenues (adjusted to inflation) grew 11.9 percent on year in May and gained 12 percent from January to May of 2007.
”The apparent increase in revenues … occurs in general environment of economic growth in well-being,” said Aleftina Gulyugina from Center of Revenues Problem and Social Protection of the Population. “Nowadays, the state is attempting to create a socially-targeted society and it has proclaimed milestones already – fighting poverty and raising salaries and pensions,” Gulyugina specified.
The sources of revenues are of vital significance, according to Gulyugina. “In revenues structure, the salary accounts for roughly 65 percent, while the remainder is covered by pensions, grants, property yields, business revenues.”
The problem of under-the-table salaries is traditionally acute in Russia, as they still cover roughly 40 percent. But Russia’s Statistics Service takes into account under-the-table salaries in its technical calculation, Gulyugina assured.
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All the Article in Russian as of June 22, 2007
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