hit tracker
Sunday, December 10, 2023
HomeLatest NewsHead of the Ministry of Labor: the minimum wage in 2024 will...

Head of the Ministry of Labor: the minimum wage in 2024 will be 17 percent above the subsistence level KXan 36 Daily News

Date: December 10, 2023 Time: 07:31:09

Responding to questions from deputies at a meeting of the State Duma Committee on Labor, Social Policy and Veterans Affairs, the minister reported that by 2024 the minimum wage will be 17 percent above the subsistence level.

Kotyakov recalled that the budget for 2023 and the planning period until 2025 foresee higher growth rates of the minimum wage, plus 3 percent to the growth rates planned for the subsistence minimum. However, Russian President Vladimir Putin in his speech to the Federal Assembly “indicated that this is not enough.”

In accordance with the instructions of the head of state, from January 1, 2024, the minimum wage will increase by another 10 percent on top of the parameters that were included in the budget, Kotyakov summed up.

“Thus, the minimum wage for 2024 will be 19,242 rubles,” he specified, “and it will grow by a total of 17 percent at a rate above the subsistence minimum.” As a result, the difference between both indicators will be 17 percent.

Recall that in his Speech, Vladimir Putin said that the minimum wage would increase by 18.5 percent. He pointed out that last year the minimum wage was increased twice, by almost 20 percent in total. And since the beginning of this year, there has been an increase of 6.3 percent. The president separately emphasized that the “minimum wage” will continue to rise, at a rate above inflation and wage growth.

Fulfillment of the task set by the president on the minimum wage will allow not only to increase wages, but also to solve a whole range of other social problems, Andrey Isaev, deputy head of the United Russia faction in the State Duma, said in an article in RG.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

Most Popular

Recent Comments