Russia expects to see growth of labor productivity by 2020

Russia's Economic Development Ministry expects to see growth of labor productivity of 2.3-2.6% in 2018-2020, the Deputy Minister of Economic Development Azer Talibov said.

"We expect labor productivity to grow by 2.3% in 2018, 2.4% in 2019, and 2.6% in 2020," TASS cited him as saying.

According to the Economic Development Ministry, growth of economic activity combined with demographic trends will lead to a reduction of the unemployment rate to 4.7% by 2020.

The Russian Federal State Statistics Service (Rosstat) said earlier that wage arrears in Russia as of October 1, 2017, amounted to 3.39 bln rubles ($59.1 mln) and rose by 33 mln rubles ($575 thousand) or by 1% month-on-month.