People of Single Economic Space countries become richer

Perhaps, nothing concerns us so much as lining our pockets, and comparing them with our neighbour’s wealth
By Alexander Ivanovsky

Perhaps, nothing concerns us so much as lining our pockets, and comparing them with our neighbour’s wealth. In the Eurasian Economic Commission they told about the standard of wages in the states — the members of the Customs Union and the Single Economic Space. They noted that, in the first quarter of this year, a real growth of income of people was seen in all three countries.

According to statistics, there was an increase of not only nominal wages but also of real wages paid, taking inflation into account. In January-March of 2014, in comparison with the same period of 2013, average wages in Belarus increased by 21.2 percent, in Kazakhstan by 7.5 percent and in Russia by 10.9 percent. In our country, the rate of increase of real wages (taking into account price increases) was 104.9 percent, in Kazakhstan it was 101.9 percent and in Russia, 104.2 percent.

In January-March of 2014, the average monthly salary expressed in dollars was $566 in our country; Kazakhstan averaged $639 and Russia, $859. It should be noted that these indexes were calculated in terms of the currency rates of each State’s national bank, for the first quarter of 2014. In our country this was calculated in terms of the average exchange rate of the Belarusian Rouble to the Dollar, and in Kazakhstan and Russia, in terms of average exchange rates of their respective national currencies to the Dollar.
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