Page 111 - RusRPTAug24

4.5.2 Income dynamics
Putin more than doubles lump-sum payment for joining war against Ukraine.The presidential decree published on the government website effectively doubled the lump-sum payment of 195,000 ($2,260) rubles initially promised to recruits in September 2022. d
The main driver of this income growth is the rapid increase in wages across many sectors of the Russian economy. As of April this year, nominal wages at large and medium-sized companies increased on average by 17 percent compared to April 2023, while real wages, adjusted for inflation, rose by 8.5 percent. Russian companies have to raise wages to attract employees as there’s a severe labor shortage in the job market.
Wages are growing fastest in industries fulfilling government defense orders. For example, in the production of “metal products” (as non-classified military goods are referred to in official statistics), wages increased by 24 percent in the span of a year. In the production of electronic products, which are also mainly supplied to the Russian army, wages rose by 28 percent.
111 RUSSIA Country Report August 2024 www.intellinews.com