Increase in Minimum Wage: Russia plans to surpass 27,000 rubles in 2026 for minimum salary.
Casual Take:
Looks like Russia's about to dish out a nice pay boost next year, homies. Anton Kotyakov, the Russian Minister of Labor and Social Protection, spilled the beans at the St. Petersburg International Economic Forum that the minimum wage (MROT) is gonna hit over 27,000 rubles in 2026.
He's currently cookin' up the necessary papers for this wage hike, set to be implemented as part of the budget law and the budget package prep.
Now, this move's gonna affect a pretty large chunk of the workforce, approximately 4.6 million people. That's a sizable chunk of Russia's population that'll see their monthly earnings go up!
Kotyakov also reminded us that Vladimir Putin called for the MROT to hit 35,000 rubles a month by 2030, so we're getting there gradually. As of now, the MROT makes up 48% of the median wage in Russia.
Just in case you're keepin' track, the current MROT is 22,440 rubles (effective from January 1, 2025).
Stay tuned for more updates, folks!
St. Petersburg, Natalia Petrova
[1] RIA "Novosti"[2] Macrotrends Database
- The anticipated minimum wage increase in Russia by next year, as detailed by Anton Kotyakov, is generating buzz in various sectors, including finance, business, and general-news, as it could significantly impact the country's economic landscape.
- As the Russian government prepares to augment the minimum wage, stakeholders in politics and the business community are closely monitoring the developments, considering the potential implications for income distribution and consumer spending behavior.
