Russia (bbabo.net), - The shortage of personnel in the labor market in Russia may indicate an imminent overheating of the economy. Kirill Tremasov, director of the monetary policy department of the Bank of Russia, warned about this.
"Analysis of this [labor] market shows that the Russian economy is now close to overheating. Most likely, we are already above the trajectory of our potential opportunities, and the labor market is just a key constraint to long-term growth," Tremasov said in an interview with Bitkogan.
According to the Central Bank's estimates, such a restriction will not allow achieving higher economic growth. "Now, no matter how large-scale investments are made at a preferential rate or not at a preferential rate, it will still create an additional pro-inflationary effect. Therefore, long-term growth is an increase in the productivity of the economy," Tremasov said.
The fact that the number of vacancies in Russia doubled the number of unemployed was reported in the fall. According to experts, the deficit is most noticeable among builders, truckers, loaders, storekeepers, machinists, waiters and other specialties.
Despite this, the level of salaries is growing. At the end of November, the head of the Central Bank Elvira Nabiullina shared her fears: she believed that the economy could fall into an "inflationary spiral", when the rise in wages and the rise in prices for goods and services follow each other, increasing the money supply in the economy. To break this relationship, the Bank of Russia spoke about maintaining a tight monetary policy (including continuing to increase the key rate).
bbabo.Net