Kazakhstan forecasts income growth but says it can't mandate private-sector wagesThe government of Kazakhstan forecasts that real public income will grow by 2% to 3% annually from 2026 to 2028, but it cannot force the private sector to raise wages to ensure that growth, Deputy Prime Minister Serik Zhumangarin said Wednesday."From 2026 to 2028, the real income of the population will grow by an average of no less than 2% to 3% per year," Zhumangarin said Wednesday at a government meeting in Astana. The projections are part of a macroeconomic stabilization and public welfare program for the three-year period.Speaking at a news conference after a government meeting, the Deputy Prime Minister said the administration has no power to mandate wage increases in the private sector. "We cannot influence the private sector," Zhumangarin said. He noted that while nominal wage growth was 10% over the first nine months of the year, real wages fell due to inflation. He added that population income includes more than just wages, citing year-end bonuses and other payments that depend on employers.Zhumangarin said he is convinced private businesses are actively raising wage levels. "The average wage is now 429,000 tenge, an increase of 10%. This work is ongoing," he said. "Our task is to ensure inflation does not consume the population's income. When we talk about raising real public income, it means inflation plus a nominal growth of 2% to 3%.” (ICE ALMATY)

Fonte notizia: INTERFAX