Labor productivity in the Vitebsk region outpaces wage growth by 17%

September 21, Vitebsk / Diana Kurilo - BELTA /. Labor productivity in the Vitebsk region outpaces wage growth by 17%, said the chairman of the regional executive committee, Alexander Kosinets, at the solemn ceremony of seeing off the Vitebsk region delegation to the republican festival-fair of agricultural workers "Dazhynki-2012", a BELTA correspondent reports. About 49% of the region's enterprises' funds are directed towards the modernization of production. According to the results of January-August 2012, warehouse stocks do not exceed one-third of the permissible volumes, and the export growth rate was 404% compared to the same period last year. The region has exceeded the planned positive balance of foreign trade turnover of $290 million and has already reached $1.5 billion. It is expected that the average wage level in September in the region will reach $450 in equivalent terms, and in December it will be at least $500. During 2013, the region will have to reach a wage level not lower than that of the Smolensk region, emphasized Alexander Kosinets. Therefore, the region faces the task of continuing the modernization of the production sphere, ensuring the output of liquid products, and working on the diversification of sales markets. -0-