Vladimir Putin signed law on raising minimum wage to subsistence level

UFA, 29 December 2017. /Bashinform News Agency, Galiya Nabieva/. President Vladimir Putin signed a federal law that gradually increases the minimum wage to the subsistence level. The document is published on the legislative acts website. The minimum wage will be set at the level of 9489 rubles per month since January 1, RBC reports.

According to the law, from January 1, 2018, the minimum wage will be 85% of the subsistence level. In 2019, the size of the minimum wage and the subsistence level should equal. Every year the minimum wage will be set at the level of the subsistence minimum for the second quarter of the previous year.

Earlier, on December 15, the law was passed by the State Duma. According to the estimates of the head of the Ministry of Labor, Maxim Topilin, the state will have to spend more than 55 billion rubles to comply with the law.