Tuesday, March 28, 2017

Average salary in Yekaterinburg could exceed $1,000 by end of 2014

During an appearance on the Open Studio Yekaterinburg television program on Monday, Yekaterinburg Deputy Head of Strategic Planning, Economic Affairs and Finance Alexander Vysokinsky announced that the average monthly salary in Yekaterinburg could exceed $1,000 by the end of the year.

During the period of January - August, the average monthly salary in Yekaterinburg reached $969.88, which is 17 percent higher than the Sverdlovsk regional average. While Moscow remains the highest-paid city in Russia, Yekaterinburg leads the nation in per capita income. As a result, Vysokinsky predicts Yekaterinburg salaries may average more than $1,000 by the end of 2014, Ekburg.ru reports.

Yekaterinburg's housing per capita index, an indicator of per capita income, currently leads the national average by 21 percent and is 26 percent greater than the regional average.

"In accordance with the Decree of the President of the Russian Federation, we plan to reach the level of one million square meters of housing by the end of 2014," Vysokinsky said, according to Ekburg.ru. "Good growth on entering residential and non-residential premises are the keys to market stability and prevention of growth of prices."

Vysokinsky explained that Yekaterinburg continues to invest heavily in large and medium-sized enterprises. In the first eight months of 2014, the city contributed $1.04 billion to business development in Yekaterinburg, Ekburg.ru reports.

"Yekaterinburg [is] consistently ranked first, sometimes second, on mainline socio-economic characteristics," Vysokinsky said. "This is due to the diversification of the economy and the transformation of the city into a multifunctional center with a developed industry, financial services, logistics, transportation, communications and many others."