news

from 11.01.2008

Belarus needs to find balance between wages growth and labour productivity, Nikolai Zaichenko says


Belarus needs to find balance between wages growth and labour productivity, Nikolai Zaichenko says

The Government of Belarus sets a goal for 2008 to balance the growth in wages and labour productivity, Economy Minister Nikolai Zaichenko stated at a session of the Council of Ministers on January 11.

Nikolai Zaichenko noted that in January the Government will set the targets on wages growth and labour productivity for the national governmental bodies, oblast executive committees and the Minsk City Council. The Government will monitor the implementation on the quarterly basis.

Maintaining the inflation within 6-8% is an important condition to preserve social stability, Nikolai Zaichenko underlined. In this respect the Government is going to adopt two resolutions: to secure the 2008 inflation projections and to control changes in the minimum consumer budget.

The Economy Minister considers that today financial resources alone are not enough to ensure the socio-economic growth. “The most important thing is the initiative at all levels of the Government and implementation of new competitive innovation projects,” Nikolai Zaichenko said.

Council of Ministers of the Republic of Belarus