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4.5.1 Nominal wages dynamics
Belarus' budget 2019 will be mainly oriented at increasing salaries and improving the efficiency of the real economic sector , Belarus' Finance Minister Maksim Yermolovich said in an interview to the Belarus 1 TV channel, BelTA reports. “The main objective of the budget policy is to improve its social component. The president has repeatedly said about the need to improve the quality of life of our people. The budget plays a key role here,” said Yermolovich. In this regard, the budget 2019 has a number of novelties. “This is a more active growth of salaries. We have already taken several steps for it this year. The key task is to increase the average salary in the public sector to at least 80% of the average salary in the country,” noted Yermolovich.
In 2019 the average salary is projected at not less than BYN1,025, in the budget-financed sectors at BYN820 , Belarus Prime Minister Sergei Rumas told the media following a meeting with the head of state on 26 November, BelTA has learned. “Salaries are expected to average BYN1,025 next year. Salaries in the budget-financed sectors should be not less than 80% of the average wage, i.e. at the level of BYN820,” Sergei Rumas noted. According to him, the government is set to continue to approximate minimum salary and minimum consumer budget in 2019 to make sure they match each other on 1 January 2020. “According to today's estimates, the minimum salary will make up BYN377 as of 1 January 2020,” the prime minister said.
4.5.2 Retail sector dynamics
In January- October 2018 the retail sector in Belarus expanded by 8.9% in comparable prices versus January-October 2017 to reach BNY36.5bn, the National Statistics Committee reports. Over the ten months, wholesale trade totalled BNY76.4bn, up by 6% in comparable prices from January-October 2017. In January-October 2018, one-day retail sales per capita made up BNY12.6 as against BNY11.4 in the same period last year. Retail trade by trade companies accounting for 89.1% of the total retail trade amounted to BNY32.5bn, up by 11.4% in comparable prices. In January-October 2018,
14 BELARUS Country Report December 2018 www.intellinews.com