Russian Trade Unions Call for Reduction of Key Interest Rate
“The FNPR is receiving reports from trade union organizations acrossthe country indicating a growing trend of wage arrears.This process destabilizes the social environment and increases the number of labordisputes,” the statement reads.
According to the FNPR, the primary cause of delayed wage payments is the lack of working capital among enterprises.
Businesses are unable to access credit at economically viable interest rates, a situation resulting from the Central Bank’s monetary policy. In its attempt to combat inflation, the Bank of Russia has significantly raised the key interest rate, which, in turn, is freezing wage growth, increasing corporate debt, and leading to layoffs.“Russian trade unions call for a reduction of the key interest rate!” -the FNPR emphasized in its statement.
As of the end of April, the total amount of overdue wage arrears in Russia stood at 1.4819 billion rubles — an increase of 33.8 million rubles (2.3%) compared to March.
GCTU News
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A Unified Registry of Collective Agreements Should Be Established in the CIS
A unified registry of collective agreements in the Commonwealth of Independent States (CIS) will enable the regulation of labor relations at a cross-border level, according to the General Confederation of Trade Unions. The proposal by GCTU to include the creation of such a registry in the draft Plan of Activities for the Year of Social Development and Quality of Life in the CIS was approved by participants of the working group of the Advisory Council on Labor, Employment, and Social Protection of the Population of the CIS Member States. The working group meeting took place today at the CIS Executive Committee in Minsk, using video conferencing.
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Nominal Wages in the CIS Show Steady Growth
Kyrgyzstan and Tajikistan lead with the highest growth rates
Kyrgyzstan and Tajikistan have recorded the highest growth in nominal average wages in the CIS, with increases of 27.5% and 20.3%, respectively, compared to the first half of last year.
Experts from the GCTU analyzed wage data in the CIS, published in the latest report Socio-Economic Situation of the CIS Countries in the First Half of 2026 by the CIS Statistical Committee.
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Belarusian Trade, Consumer Cooperation and Entrepreneurship Workers' Union Turns 95
The Trade, Consumer Cooperation and Entrepreneurship Workers' Union of the Republic of Belarus celebrated its 95th anniversary on July 31. Today, the union unites over 143,000 industry workers across the country, with 1,681 primary trade union organizations. The union reliably protects the rights of industry workers in the Republic and actively operates on the international stage as part of the International Confederation of Trade Unions of Workers in Trade, Catering, Consumer Cooperation, and Various Forms of Entrepreneurship.