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Russians' real incomes up by 3% in May - Russian finance minister

Real incomes of Russians went up by three percent in May, Russian Finance Minister Anton Siluanov said on Sunday.

"Since the beginning of this year, incomes of our citizens have begun to grow," he said in an interview with the Rossiya-1 television channel. "Statistics demonstrate that real earnings, especially in May, were growing by three present."

According to preliminary data of Russia's statistics authority (Rosstat), real disposable incomes of the Russian population decreased by 1.8% in January-May 2017 on the same period last year. In May 2017, incomes decreased by 0.4% year-on-year. In April 2017, the drop was 4.8%

Average cash incomes per capita went up by 3.9% in May 2017 year-on-year, to reach 29,136 rubles (490. 06 U.S. dollars). Average monthly nominal wage in May was 40,640 rubles (683.56 U.S. dollars), or up by 7.9% on 2016.

Investments in capital stock in Russia increased by 3.2% in May, Russian Finance said.

"Investments were growing by 3.2% in May," he said in an interview with the Rossiya-1 television channel.

It is very good, since investments will entail new production lines and it will be a basis for future economic growth," he added.

Earlier, Russian Minister of Economic Development Maxim Oreshkin said that investment growth in the first quarter of 2017 was 2.3% He said his ministry could revise upwards the forecast for the 2018-2020 budget in terms of investment dynamics. The ministry's forecasted investment growth is two percent.

[Source: Itar Tass, Vladivostok, 25Jun17]

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