Support The Moscow Times!

Putin Raises Minimum Wage to $87 Starting Jan. 1

President Vladimir Putin has signed a decree setting the minimum wage in Russia at 6,204 rubles ($87) a month beginning Jan.1, 2016, according to a document published Tuesday on the government's legal information website.

In 2015, the official minimum salary that employers in Russia could legally pay their workers stood at 5,965 rubles($84). Therefore, the minimum wage is set to rise by 4 percent from Jan. 1 of next year.

As of September, the average monthly wage in Russia is 32,911 rubles ($463), according to data released by the Rosstat state statistics service.

According to the estimates of consulting firm Korn Ferry — Hay Group, Russian companies will increase salaries for their employees on average by 7 percent in 2016, the RBC newspaper reported earlier this month.

However, the inflation rate in Russia is expected to stand at 14,6 percent next year, which means that the real wages will fall by 7.5 percent, the report said.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.