Page 54 - RusRPTJan23

Russian President Vladimir Putin signed a federal law that establishes a minimum wage for 2023 in the amount of RUB14,375 ($230). The document was published on the official Internet portal of legal information. According to the text of the document, in 2023 the subsistence minimum for Russia as a whole per capita is set at 14,375 rubles. and 2024 in the amount of 15,049 rubles. At the moment, the subsistence minimum is 13,919 rubles. On September 22, the Ministry of Labor made a proposal to increase the living wage, as well as the minimum wage (SMIC) . The department noted that in 2023 it is planned to increase the minimum wage to 16,242 rubles, and the cost of living to 14,375 rubles. The bill was submitted to the State Duma on September 28, it was approved in the first reading on October 26, in the second - on November 22, and on November 23 the law was adopted .
Russian President Vladimir Putin instructed the government to achieve a noticeable increase in real wages in the country in the coming 2023.
The President also announced the need to continue to increase the minimum wage "at a rate higher than inflation and average wage growth." "This year it (the minimum wage - TASS) was increased twice, by 8.6% and by 10%. And from the beginning of the new year it will amount to more than RUB16,000 rubles ($247) a month," Putin said.
The President also called reduction of the poverty rate in Russia to 10.5% "a small movement in the right direction." "In the third quarter, the poverty rate fell to 10.5%. Of course, this is a small movement, but movement in the right direction," the head of state said.
"The incomes of the poorest part of the population also grew by 27.8% in nominal terms. <> I repeat it that it concerns people with the lowest incomes, which made it possible to reduce the level of inequality a little bit," Putin said.
In the first half of this year Central Asia became the world’s leader in wage growth, according to the International Labour Organisation. According to its Global Wage Survey, average earnings in the region rose by 2.5% in six months , showing the most positive dynamics. For comparison, in 2021 it was 12.4%.
The increase comes at a time when for the first time in 20 years, global wage growth has not been able to outpace inflation and fallen by an average of 0.9%, and excluding China was down by 1.4%.
The maximum decline among the regions of the world is in Eastern Europe (3.3%), where Ukraine made the largest contribution to the reduction of the indicator and could lose some 15% of its jobs, according to the ILO. By contrast the biggest gains were recorded in the countries of Central Asia (up
54 RUSSIA Country Report January 2023 www.intellinews.com