The minimum wage and the cost of living in Russia will grow above inflation from 2023

Minister of Labor Anton Kotyakov

Minister of Labor Anton Kotyakov

© Kirill Zykov / Moskva Agency

The minimum wage (minimum wage) in 2023, taking into account the already carried out indexation, will increase by 16.9% compared to the level of January 1, 2022, and the cost of living – by 13.6%. This was announced on Tuesday, November 8, by the Minister of Labor and Social Protection of the country, Anton Kotyakov.

Thus, the minimum wage and the cost of living from January 1 will rise above inflation. “This year, the minimum wage was increased in two stages in the context of the rapid inflation we experienced in the spring,” Kotyakov recalled at a meeting on social issues with Russian President Vladimir Putin. About it writes RIA News. According to Kotyakov, it is necessary to increase the difference between the minimum wage and the subsistence minimum by 30%.

He added that in the country’s budget for three years, the rate of increase in the minimum wage is set above the growth of the subsistence minimum. At the end of this period, the difference is expected to reach 10%.

In addition, the average single allowance for needy families with children will be 13,900 rubles, Kotyakov said. According to him, following the results of the current year, wages are expected to increase in the country. In 2023, it should exceed the inflation rate. The situation on the labor market in Russia is stable. The unemployment rate has remained low for six months, the head of the Ministry of Labor stated.

The Government of the Russian Federation approved accelerated promotion Minimum wage in 2023-2024. The Ministry of Labor proposed to increase the minimum wage from 15,279 rubles. up to 16242 rubles. The corresponding bill was supported at a Cabinet meeting on September 22.

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