Consumption arising from wage growth will boost the economy

Analysts interviewed by MTI expect a 5.4 to 6 percent gross wage growth for 2016. The analysts believe that consumption may be the main engine of economic growth in the next period.

According to the data published on Tuesday by the Central Statistical Office (KSH), monthly average gross earnings in April were 6.4 percent higher than a year before, while net wages – increased by 8.0 percent – due to the reduction in the tax rate.