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Real Pensions Are Falling for the Sixth Month in a Row in Belarus

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Real Pensions Are Falling for the Sixth Month in a Row in Belarus

This is happening against the backdrop of accelerated inflation.

Real pensions, which are adjusted for higher prices for goods and paid services, have fallen for the sixth month in a row. This follows from Belstat data. In June, the decline was 0.7% versus May. The fall in real pensions is taking place against the backdrop of accelerating inflation, according to zerkalo.io.

If we take the data for the last 12 months, then real pensions increased only in July, August, and December 2020, and fell in the rest. The increase was associated with an increase in labor pensions in July and December.

The average assigned pension is 483.4 rubles (this indicator has not changed compared to May). At the end of June, 2,454,500 pensioners lived in Belarus.

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

The Fund for Social Protection of the Population said earlier that the financing of pensions and benefits from the budget of the fund in January-June was made on time and in full. The fund's expenses amounted to 9 billion 334.1 million rubles, and revenues - 9 billion 486.2 million rubles. Subventions from the republican budget amounted to 829.2 million rubles for this period.

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