State Duma approved minimum wage for 2024

The State Duma, in the second and third readings, adopted a law on increasing the minimum wage. Thus, the minimum wage from January 1, 2024, is 19,242 monthly rubles. Compared to last year, the amount raised by 18.5%. Remember that in January 2023, the minimum wage was equal to 16,242 monthly rubles.

The deputies also clarified that from 2025, the ratio of the minimum wage to the median salary should be no lower than 48%. Remember that we are talking about an indicator that divides all wages into two equal parts: half of the workers receive more than the median, and the second part receives less than this value. The median salary is considered because it shows the income situation more accurately than a simple average.

Author: Laysan Zakirova