Page 47 - RusRPTDec21

4.5.2 Income dynamics
On November 19, President Putin submitted an amendment to the 2022-2024 federal budget to increase the living wage and minimum wage in Russia by 8.6% to RUB12,654 ($172.35) and RUB13,890 ($189.18) respectively, reports BMB Russia.
The planned increase was 2.5%, but, as Putin pointed out in a speech on social issues, this amount is not sufficient to keep up with accelerating inflation.
According to Deputy Prime Minister Tatyana Golikova, this change will affect more than 16mn people and require an additional RUB30bn ($408.5mn) from the budget.
According to the State Duma website, the Budget Committee unanimously supported the President’s amendments. “It is very important that these proposed changes are carried out above inflation,” said Deputy Andrei Makarov.
Putin also addressed pensions in his speech. He suggested that pensions should be increased above the rate of inflation. However, he also said specific parameters were still being “worked out” and the
47 RUSSIA Country Report December 2021 www.intellinews.com