20.11.08

Salaries have been falling in Moscow since September, Moscow City Duma member Igor Antonov told journalists. “On the whole, the slowing rate of growth of salaries at enterprises can be felt in the city,” Antonov stated. He said that salaries at various enterprises in the Russian capital have been cut by 1.5-10 percent.

Antonov stated that the crisis is spreading from the financial sphere into the real sector of the economy. There is still no evidence of it in trade, but trade turnover may fall drastically this winter. Antonov stressed that no cuts to salaries paid from the city budget are being contemplated.

Rosstat has reported that wage debt is growing in many Russian regions. They include Moscow Region, where back wages have grown from 33.8 million rubles to 117.2 million rubles. Wage arrears are rather high in Moscow itself as well – 67.2 million rubles.

Read More about Services from Alinga Consulting Group

Source: www.kommersant.com