Incomes Rise By 41.9% YoY In January, Savings Rise

Incomes rose 41.9% YoY to USD 3.96 mn in January, while savings rose 42.6 times higher YoY to USD 0.45 mn. The payment of wages and salaries in January rose by 28.1% yoy to USD 1.7 mn; profit and mixed income grew 24.2% to USD 0.35 mn; social benefits increased by 85% yoy to ~USD 1.0 mn. In 2004, the incomes for the general population increased by 24.8% or USD 9.9 mn yoy, to USD 49.9 mn. Concorde Capital: The enormous growth in savings is a positive sign that confidence is being restored in the banking system. The population?s marginal propensity to save is high, which will help bind excess money and counteract inflationary pressures.