Putin announced the indexation of the minimum wage from January 1, 2024 by 18.5% – Kommersant
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Russian President Vladimir Putin, speaking at the plenary session of the St. Petersburg International Economic Forum, said that the minimum wage from January 1, 2024 will be indexed by 18.5% instead of 10%.
According to the head of state, an increase of 18.5% is “much higher than inflation.” By 2023, Vladimir Putin noted, in nominal terms, the minimum wage should double. He added that this would have a positive impact on wages, TASS reports.
In a message to the Federal Assembly on February 21, Vladimir Putin said that from January 1, 2024, the minimum wage would be indexed by 10%. Then he said that, taking into account such indexation, the minimum wage as a whole would increase by 18.5% and amount to 19,242 rubles.
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