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Monday, 29.04.2024, 23:54
Estonian central bank: salary growth to restore in 2011
Juhan Tere, BC, Tallinn, 23.04.2009.
Print version
Print versionAccording to the Estonian Central Bank's forecast, Estonian average gross salary will decrease from 12,818 kroons, recorded in 2008, to 12,151 kroons in 2009, and will start growing in 2011, LETA quoted E24.ee.
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During a period from 2005 to 2008 the average gross salary increased in Estonia by 77%. At the same time, production per employee grew by 15% in the same period, so the salary growth exceeded the latter several times.
Performance pays will be suspended or are to decrease in some areas.
The Central Bank's experts noted that in the public sector of Estonia the wage growth has been higher than in the private sector in recent years. It has partially compensated smaller wage growth before. In this year the salary expenses in the public sector will come down as well.
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