Putin instructed to increase the minimum wage in 2023 above the inflation rate
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Russian President Vladimir Putin instructed to raise the minimum wage (minimum wage) in 2023 above the inflation rate, as well as submit proposals for a further increase in the minimum wage. This follows from list instructions of the President following the meeting of the Council for Strategic Development and National Projects.
“Ensure an increase in the minimum wage in 2023, outpacing the growth of inflation and the growth of the average monthly wage in the country in 2023, and submit proposals for a further increase in the minimum wage,” the Kremlin’s website says. The deadline for completing the assignment is July 1.
From June 1, 2022, the minimum wage was increased to 15,279 rubles, from January 1, 2023 – to 16,242 rubles. Thus, the growth was 6.3%. From January 1, 2022, it was increased by 8.6% to RUB 13,890. The Central Bank predicted inflation in 2023 at the level of 5-7%.
Since 2018, the minimum wage cannot be less than the subsistence level. The highest level of the minimum wage in Moscow is 24,801 rubles.
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