28 November 2021, Sunday, 20:34
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Real Pensions Dropped in Belarus Again

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Real Pensions Dropped in Belarus Again

In October, they decreased by 0.9% versus September.

Real pensions have dropped again in Belarus, which are calculated adjusted for price increases. In October, they decreased by 0.9% versus September, Belstat reports. Let us remind you that, this year, labor pensions were raised once - in September, but this increase was "eaten" by record inflation, reports zerkalo.io.

The average assigned pension in October, as in the previous month, amounted to 515.9 rubles. At the beginning of November, there were 2 million 422.2 thousand pensioners in Belarus.

This year, real pensions were in the positive only in August and September, while in other months, they were in the negative (I mean the comparison with the previous month).

Officials have been trying for several years to raise the ratio of the average old-age pension and the average salary to 40%, but if they succeed in doing this, then only in certain months.

Let us remind you that, this year, labor pensions were raised once - from September 1. The growth averaged 6.3%. But in fact, the September increase was "eaten" by inflation, which for 9 months amounted to 7.5%. Low pensions of Belarusians are one of the problems that officials have not been able to solve for years.

This year, officials made a New Year's gift to Belarusians, which caused a noticeable rise in inflation in the first months. Thus, the authorities have raised the VAT on medicines, medical products, children's products, many foodstuffs since January 1, which affected retail prices. At the same time, the Minister of Taxes and Levies Siarhei Nalivaika predicted that, due to the increase in VAT, "prices will not rise." In July, the National Bank acknowledged that the increase in VAT was an additional pro-inflationary impulse.