In 2025, a slowdown in nominal wage growth is expected in Russia.
The decline will be up to 9%, and a further decline is expected in the next two years: to 7% in 2026 and to 6.6% in 2027.
Salary growth in Russia will slow to 9 percent in 2025 after a record 16 percent rise in 2024, Izvestia writes.
According to Central Bank analysts, the main reason for the growth of nominal wages is the shortage of personnel.
Companies, trying to retain or lure qualified employees, offer high salaries.
A slowdown in wages is expected due to a lack of resources to attract and retain workers.
In addition, private business cannot compete with the public sector for specialists.
Regular salary increases lead to costs while profits remain at the same level.
The Ministry of Economic Development estimates that real wages will grow by 9.2% this year and by 7% in 2025.
