Source Pravda.Ru

Russians' real incomes to increase by one fourth in 2005

According to the Russian government's forecast, in 2005 real incomes of the population will increase by 24-28 per cent in comparison with last year. The forecast is contained in the programme of the country's social and economic development for 2003-2005 posted on the government's site on Monday.

The real salary will grow 30-34 per cent, the document reads.

The specific weight of the population with incomes below the minimum subsistence level will fall from 25 per cent in 2002 to 19-20 per cent in 2005. The new mechanisms of financing pensions and forming pension liabilities will contribute to ensuring the financial stability of the pension system and improving pensioners' living standards.

Labour efficiency is expected to rise by 14-17 per cent in three years.

"As a result, the economic growth rate will amount to 5-6 per cent in 2006 and 15-18 per cent in the three-year period /from 2003 till 2005/. This will give us a reason to expect a 7-% increase in the economic growth after 2008," the programme reads.

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