The Russian Ministry of Labor has submitted to public discussion a draft law on increasing the minimum wage (minimum wage) to 19,242 rubles. monthly or 18.5% from 1 January 2024. The newspaper writes that by 2030, the nominal minimum wage should double compared to 2023. “News”.
Albert Bakhtizin, Director of the Central Institute of Economics and Mathematics (CEMI RAS), described the strong social stratification in Russia as one of the most serious threats to national security and one of the reasons for the decline in the birth rate. The economist told the publication that in connection with these risks, urgent measures should be taken to reduce the income gap between the rich and poor segments of the population of the Russian Federation.
According to CEMI RAS, about 2.4 trillion rubles will be required to double the minimum wage by 2023. This amount can be obtained through progressive taxation and the country’s National Welfare Fund.
Experts believe that the smoothing of social stratification contributes to an increase in income and wages for the majority of the population, which in turn has a positive effect on increased labor productivity. As Bakhtizin points out, low wages deprive workers of the motivation to work effectively and this is one of the causes of the demographic crisis.
Former analysts listed The pros and cons of raising the minimum wage.
former Central Bank declaration about a possible increase in key rate.