average salary and pensions of retirement impact research to the value in Lithuania

Rimvydas Jasinavičius, Vidmantas Ganiprauskas

Abstract


The average salary increased approximately 8,2 percent during the year since 2005 yearly according to the Department of Statistics in Lithuania. But for most it did not improve the quality of life neither for working people nor for all the country’s economic condition and situation.
The research showed that the average salary growth significantly lagged behind the falling of the same salary actual purchasing power in monetary value in Lithuania. Due to the depreciation of the litas, the average salary purchasing power decreased as measured by both a standard rate of inflation as well as a „Gold standard“ during the 2005- 2011 period. Inflationary factors of litas made an illusory amount of money in income and devalued litas.
In summary of research results it can be stated that employees of Lithuania was actually roasted. With reference to the research results it was determined that Gross domestic product (GDP) increased an average of 6.6 percent every year, but because of decreasing GDP, the Lithuanian people’s quality of life cannot improve.

Keywords


monetary value and depreciation; income value calculation; value of the average monthly wages; the effect of inflation

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