BISHKEK -- A resolution raising pensions in Kyrgyzstan went into effect Monday (October 1), 24.kg reported.
Under the measure signed by Prime Minister Muhammedkaly Abylgaziyev, recipients whose monthly pensions are less than the subsistence minimum of 4,393 KGS ($63) will receive an addition of 350 KGS ($5).
The move, which is expected to benefit 246,000 Kyrgyz, or 38% of pensioners, is aimed at protecting citizens with low income.
The change will raise the average monthly pension in Kyrgyzstan to 5,682 KGS ($82).
It would be interesting to see the result. It seems to be well thought out. Meanwhile, in Kazakhstan the minimum wage will be increased 1.5 times, effective on 1/1/2019. Essentially, this applies to all the nurses and nearly all specialties that involve healthcare, education, culture, etc. And more than 30 percent of the officially employed workforce has jobs in the public sector. This means that inflation could skyrocket by the same 50 percent in real terms. Although "official" [inflation] will remain 7-8% :))) Considering how Russia is tightening the screws on Kazakhstan, and the quality of the government in Kazakhstan (hence the 100 percent price hike for sugar and the USD exchange rate increase by 17 percent over the last two-three weeks), maybe this minimum wage increase is the officially projected inflation rate in the first quarter of 2019 by the Kazakhstani government.
Reply1 Comment(s)