Minimum wage will be raised by 18.5% in Russia from 2024

The minimum wage will be indexed in Russia by 18.5% from January 1, 2024. This was announced by Prime Minister Mikhail Mishustin, speaking at the State Duma with a report on the work of the government. The President of the Russian Federation said about raising the minimum wage in February.

From April 1 this year, social pensions will be increased. Thus, their growth will be more than 13.5% for the year, and the increase will affect almost 4 million people. Social pensions are received by people who need more work experience to obtain an insurance pension.

As Bashinform News Agency reported, in Bashkiria, from January 1, 2023, for workers in the non-budgetary sphere of the region, the minimum wage, taking into account the regional coefficient, amounted to 19.743 thousand rubles (+ 12.3%) for "state employees" - 18.678 thousand rubles (+ 6.3%).