Russia's minimum wage to increase by 53% in three years

The Russian government approved the draft law on increasing the minimum wage from January 1, 2018, setting it in the amount of 9,489 rubles ($164.2), the Russian Minister of Labor and Social Protection Maxim Topilin said.

"The government approved the draft law on raising the minimum wage to the living wage of the able-bodied population of working age. The government approved a project, according to which, since January 1, 2018, the minimum wage will be set at 9,489 rubles ($164.2), which is exactly 85% of the living wage," TASS cited Topilin as saying.

Over the next three years the ministry plans to raise the minimum wage by 53%.