Expert names reason for record salary growth in Russia
The expert explained what caused the significant increase in salaries that was typical for 2024.
Several factors have had a positive impact on payments, and the trend may continue next year.
Maxim Osadchiy, head of the analytical department of BKF Bank, told RIA Novosti about this.
The September macroeconomic survey showed that nominal wage growth could reach 16% in September, which would be a record since 2008.
At the same time, it is predicted that by 2025, wage growth will fall to 9%.
As Osadchiy noted, the growth of wages of Russians is caused by the following factors:
- a boom in real estate construction linked to government-backed mortgage programs;
- growth of government spending;
- shortage of qualified personnel.
The expert recalled that the Central Bank expects the Russian economy to cool down in connection with the measures taken by the regulator. However, he did not rule out that wage growth will continue next year.
