A significant increase in the minimum wage (SMW) in 2024, recently approved by the State Duma in the first reading, will bring significant benefits to millions of Russians and the country’s economy as a whole. In a comment made to the publication on this subject “Appearance” Freedom Finance Global analyst Vladimir Chernov said:
According to Chernov, as a result of increasing the minimum wage from 16,242 rubles to 19,242 rubles, the salaries of 4.8 million people will increase. And public employees will primarily benefit from this. In addition, the expert noted that the decision to increase the minimum wage by 18.5 percent could increase the real income of Russians by about 10 percent, since it is above the projected inflation. Low-income citizens will benefit most from this.
Finally, according to Chernov, increasing the minimum wage will help stimulate the Russian economy as it will lead to an increase in consumer spending and, as a result, the GDP growth rate.
It was learned yesterday that civil servant salaries will be indexed going suspension for one year.
Formerly Ministry of Labor of the Russian Federation announced Increase in the average salary of Russians.