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Interview on current economic topics

In an interview for MRTV, Blagica Petreski talks about current economic topics.

ВThe second domestic risk for inflation is what pressure the general increase in wages and pensions will have on prices. A cost of living adjustment is fine, it just preserves the real purchasing power of the recipients, but any increase above that is a risk in an inflationary environment. It is legitimate what the unions demand that wages should rise significantly, and I #agree with that, but in the long run, more wages come with more #work and greater #skills, that is, all of this defines the #productivity of labor. We suffer from chronically low labor productivity and this is a major determinant of wage growth. Let’s have no doubt that any wage growth that exceeds productivity growth will only affect #prices in the long run, so the standard of living will not improve in real terms.