Russian President Putin proposed raising the living wage to 12,654 rubles 6 percent. This is reported by TASS.
According to Putin's proposal, the cost of living will rise to 12,654 rubles. The President noted that the indexation of the living wage in the budget by 2.5 percent is not enough due to the current level of inflation, which has accelerated in recent months. Putin also ordered to raise the minimum wage (minimum wage) by 8.6 percent – up to 13,890 rubles.
The President stressed that many social benefits are tied to the subsistence level, including payments to families with children and additional payments to pensions. “Therefore, it is not even the absolute figure that is important, but what it is connected with is important. And, let me remind you, these benefits are received by millions of our citizens. Naturally, these payments will also grow, “Putin explained.
The head of state also recalled the need to index pensions above the level of actual inflation. Putin stressed that the government has strictly adhered to this rule since 2019. “Today, given the significant rise in inflation, it would be wrong to deviate from this principle,” the president said.
According to the Federal State Statistics Service, inflation accelerated to 8.1 percent on November 15 in annual terms. Food prices rose the most – by 10.64 compared to the same period in 2020. To contain the rise in prices, the Central Bank on October 22 sharply raised the key rate to 7.5 percent per annum. At the end of 2021, the regulator predicts inflation at 7.4-7.9 percent with a target of four percent.