Decline in real income recorded first time since 2017

June 16, BPN. Real disposable income in Belarus (monetary income minus taxes, fees and contributions, adjusted for consumer price index for goods and services) decreased by 1.2 percent year-on-year from January to April, the National Statistics Committee (Belstat) reported.

This is the first officially reported decline in real income since July 2017. For nearly five years, Belstat had reported monthly increases ranging from 0.2 percent to 8.2 percent.

In total, remuneration accounted for 64.6 percent of income; income from entrepreneurial and other income-generating activities, 7.9 percent; pensions, benefits, scholarships, 22.7 percent; income from property and other income, 4.8 percent.

Nominal gross average pay (before taxes and other mandatory payments) in Belarus decreased by 2.13 percent to 1,567.8 rubels in April ($610 at the exchange rate on June 16 at the Belarusian Stock and Currency Exchange).

Inflation was at 0.7 percent in May, 11.9 percent since the start of 2022, and 17 percent for 12 months.