Wages in 2010: Up or Down?
Kazakhstan, Politics and SocietyNo Comment
Translation of publicist’s post (RUS)
All employed people are, undoubtedly, concerned with the questions “How much will I earn?” “Will that number remain constant or be adjusted downwards?” “Can I expect a raise, a bonus or an award in the coming year?”
At first glance, the questions seem simple, but it is impossible to answer them without considering the overall situation in the country. The bottom line in any bookkeeping operation is determined by many factors: the government’s economic and social policy, the state of the economy, the labor market and even the international situation.
International Monetary Fund (IMF) predicts that, in 2010, the world economy will grow by 3.1%. The Kazakh government hopes to capitalize on these gains. Bakhyt Sultanov, the Minister of Economics and Budget Planning, expects demand for raw materials, such as oil and metals, to increase.
“As demand for Kazakhstan’s exports grows, the country’s metallurgy and mining output should gradually return to normal, fostering growth in related sectors,” the minister said. Indeed, the prospects look good, but it is still premature to talk about increasing output. Small and medium-size business have been hard-hit by the crisis, and analysts predict a further rise in the unemployment rate.




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