Average nominal salary in Armenia will be reduced by 0.1% in the 4th quarter of 2009 – prognosis of central bank

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Economy

08.12.2009, 02:50

Central Bank of Armenia prognosis insignificant reduction of average nominal salary by 0.1% in the forth quarter of 2009, informs “The program of monetary-credit policy of Central Bank of Armenia for the 4th quarter of 2009”.

YEREVAN, December 7. /ARKA/. Central Bank of Armenia prognosis insignificant reduction of average nominal salary by 0.1% in the forth quarter of 2009, informs “The program of monetary-credit policy of Central Bank of Armenia for the 4th quarter of 2009”.

During the reporting period, average level of unemployment will increase only by 1.7 percent. In the result of above mentioned developments significant decline of working efficiency of about 7% will be registered. According to the program, during the 4th quarter of 2009 development of labor market will bring to inflation pressure in consumers’ market as in severe market relations working efficiency will reduce rapidly than the salary. In its result, significant increase of expenses per working force will be registered which will stimulate increase of inflation by 1.1.

In the first three quarters of 2010 about zero increase of average nominal salary, increase of working efficiency by 2% and unemployment by 1% will be registered. In the conditions of inflation pressures by labor market will not be registered. --0—

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