Experts Predict Salary Growth in the Next Two Years, As Well As Price Growth

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Salary increases of 7.2% and 7.8% are expected for 2022 and 2023. The trend of salary growth will be due to a shortage of labor and, as a result, the need for employers to attract new workers. Since the average pension increased by an estimated 7% in 2021, it is expected to increase by 4.3% and 7.7% in 2022 and 2023, analysts at Expert-Grup believe, according to An increase in income will stimulate household consumption. In addition to the increase in income, another factor that will contribute to an increase in consumption in 2022 and 2023 is the expansion of consumer loans to individuals. The main risk for the population is accelerated price growth. “Expectations regarding the dynamics of inflation are quite pessimistic, and for 2022 the average annual price growth is close to 14%. Due to the external situation, characterized by a sharp increase in prices, in particular energy prices, the prices of goods imported to the Republic of Moldova will increase. Given the fact that the Republic of Moldova is a net importer (imports exceed exports by almost two times), an increase in the price of goods on the domestic market is inevitable. The growth of utilities will be especially high. After the increase in gas tariffs, which was in effect at the end of 2021, there will be an increase in the price of electricity in 2022. In this regard, State intervention by compensating for part of the consumption of gas and heat is an appropriate measure. Although it should be noted that by these actions the government has only partially reduced the financial burden of households,” Expert-Grup economists report. Point