Фото: ЕАБР
Rising wages and household incomes are creating conditions for growth in consumer activity. This was stated in the weekly review of the economies of the Eurasian Development Bank’s member countries. The bank’s analysts had previously identified consumer demand as one of the main drivers of economic growth in Belarus.
“In September 2026, real wages increased by 7.4% year on year, following an 8.1% year-on-year increase in August. Employers continued to raise wages due to staff shortages. The unemployment rate fell from 2.1% in the second quarter to 1.9% in the third quarter, reaching a new historic low”, the EDB said.
The bank also noted an increase in the base rate in September, to which the pay of public-sector employees is linked.
“This made it possible to maintain faster growth in the public sector (+8.3% year on year) compared with the economy-wide average. Continued growth in real incomes is creating conditions for further expansion of consumer activity”, the EDB concluded.