Experts assessed budget expenditures for advanced indexation of the minimum wage

In subsequent years, the minimum wage will grow faster than inflation. This was stated by Deputy Prime Minister Tatyana Golikova during an expanded meeting of the collegium of the Ministry of Labor and Social Protection on May 19. According to her, this decision was supported by President Vladimir Putin and Prime Minister Mikhail Mishustin.

Since the beginning of 2023, the minimum wage in Russia has been indexed by 6.3%, it is 16,242 rubles. Last year, the authorities also carried out an unscheduled indexation of social payments – the minimum wage, the living wage and insurance pensions – by 10% from June 1, 2022. The minimum wage was increased from 13,890 to 15,279 rubles. Additional expenses of the federal budget in 2022 in connection with the indexation of the minimum wage by 10% amounted to 5.6 billion rubles, estimated by the Ministry of Finance.