Unscheduled indexation will stimulate the growth of wages in the economy as a whole up to 5%

Russian President Vladimir Putin, during his message to the Federal Assembly, proposed to additionally index the minimum wage (minimum wage) by 10% from January 1, 2024. Taking into account the already planned increase in the minimum wage, it will increase by 18.5% to 19,242 rubles, he noted.

The government and the constituent entities of the Federation have been given a substantive task – to ensure a noticeable, tangible increase in real wages in Russia, Putin said. According to him, “an important indicator, a starting point is the minimum wage.” In 2022, it was raised twice – in total by almost 20%, and since the beginning of 2023, the minimum wage has been indexed by another 6.3%, the president recalled. “We will continue to increase the minimum wage at a pace higher than inflation and wage growth,” the head of state stressed.