MINSK, 2 December (BelTA) – Public sector earnings will grow faster in 2020, Belarusian Finance Minister Maksim Yermolovich told the STV channel on 1 December, BelTA has learned.
“We are approaching the 80% target [public sector pay should stand at 80% against the country's average salary] by the end of the year. In many regions the target has already been hit. However, in Minsk the gap is much bigger. This gap dragged down the country's average. We will reach 78-79%, in other words, we will be very close to the 80% target by the end of this year,” Maksim Yermolovich said.
In his words, the fast growth of salaries in the real economic sector did not allow hitting the target, however, this will be done next year. “Pay increases for public sector workers are on their way now, as public sector pay rise was slow in the previous years. Now we need to step up our efforts,” he added.
In addition to that, about Br2 billion is to be transferred to the social security fund in 2020. This will help maintain pension benefits at the level of at least 40% of the average salary.
Various options are on the table as to when to increase public sector pay and pension benefits. “We are still discussing when this should be done. We have not arrived at a final decision yet, however, the government is mulling over it. I think by the year-end we will submit a corresponding plan to the president,” Maksim Yermolovich said.