Russian Billionaire Considers Low Salaries of Citizens to Be an Obstacle to GDP Growth
OREANDA-NEWS. The President of the Crocus Group (Russia) Araz Agalarov said in an interview with Forbes magazine that the growth of gross domestic product (GDP) is impossible without an increase in the income level of citizens of the country.
According to him, the average pension in Russia does not exceed 200 US dollars, and for some people it is even lower. Agalarov noted that the salaries of the Russians are little too. “Without increasing these revenues, it is impossible to increase production, because there will be no one to buy goods and services,” the businessman said.
Agalarov added that he is observing good administration by the tax authorities: tax collection is growing, and the load on Russians in this area is quite high. The businessman noted that if earlier the tax burden could be compensated for by incomplete payment, now it becomes impossible. “Next year everyone will understand that the tax burden stipulated by the legislation is impossible and something needs to be done with it. And the sooner they pay attention to this – the tax burden needs to be reduced – the better the results will be,” Agalarov concluded.