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10 Сентября 2020

FinU Research: Russia Wages Growth

Research conducted at the Financial University under the Russian Federation showed that in 2021 real wages in Russia could increase by 3.5-4%. The GDP is also expected to grow by 2-2.5% in 2021.

The average real income increase in 2021 will be in the positive zone, although it will be insignificant and will constitute less than 0.5 per cent.

Among Russian cities with a population of more than 250,000 citizens, the highest increase in real wages is expected in the following cities: Kazan, Novorossiysk, Orenburg, Tolyatti, Kaliningrad, Ivanovo, Ulan-Ude, Chita, Sevastopol, and Krasnodar. 

This development is supported by the high level of consumer activity that can be observed in the goods and services market.