Armenia and Azerbaijan conclude European rating of minimal wage level

Experts of the RIA-Analitika Center for Economic Analysis have prepared a rating of European states with minimum wages. The rating was made for late July 2011. Sweden and Finland have no minimum wage level and were not included.

Luxemburg leads the rating with a minimum wage of $2513, followed by Ireland - $2090, Belgium - $2064, Netherlands - $2052 and France - $1952.

Armenia is at the bottom of the list, with a minimum wage of $95.4, while Azerbaijan's is $108.1. Russia has a level of $165, taking 23rd position out of 29 states. Bulgaria has $176, Belarus - $123. However, instability in Belarus caused it to hold 24th position with $70 earlier.

The minimum wage in Russia covered only 66% of the cost of living in the first quarter of 2011.

The growth rate of the minimum wage in Russia in the last 5 years put it in 2nd place in Europe. The level in Russia increased 4.2-fold, Moldova - over 6-fold, Azerbaijan's increased by $184, UK - 5%, France - 27%, Netherlands - 30%.
The highest ratio of minimum wage to GDP per capita was in France at 68.9%, Belgium - 68.6%, Ireland - 65.1%, Kazakhstan - 10.4%, Belarus - 10.6% and Russia - 12.5%.