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Russian government approves draft law to raise minimum wage to $114.25

Russian Prime Minister earlier noted that the budget has the resources for the increase in the minimum wage by another 21%

© Sergei Konkov/TASS

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MOSCOW, April 13. /TASS/. The Government has approved a draft law to raise the minimum wage by 20.9% to 7,500 rubles ($114.25) a month from July 1, 2016, according to the government’s statement.

"Increasing minimum wage will help to increase the ratio of the minimum wage and the predicted level of the subsistence minimum for the working-age population from 53.5% to 64.7%," the statement said.

Russian Prime Minister Dmitry Medvedev earlier talked about the decision to increase the minimum wage from July 1. At the time he recalled that since January 1, 2016, the minimum wage has been increased by 4% to 6,204 rubles ($94.5). Medvedev noted that the budget has the resources for the increase in the minimum wage by another 21%.

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