Real wages in Russia will increase by 10% over three years.

As Minister of Economic Development, Maxim Reshetnikov announced at a government meeting, GDP growth is expected to slow in 2025–2026 after very high growth of over 4% in 2023–2024. This is a consequence of reduced inflationary pressure, which is necessary to achieve balanced and sustainable growth rates in the years to come.

Domestic demand, driven by rising real wages and incomes, will continue to be the primary driver of growth. In just three years, real wages are expected to grow by 10%, and real incomes by more than 9%. Unemployment is expected to remain low, and measures will be implemented to enhance labor productivity. Inflation is expected to slow to 6.8% in 2025 and to 4% in 2026. "The presented baseline forecast allows us to formulate a balanced budget that will ensure the unconditional fulfillment of all social obligations, the continued implementation of national projects, and the resolution of defense and security issues," noted Maxim Reshetnikov.

Author: Insaf Khuzhabirganov