Russian President Vladimir Putin ordered to increase the cost of living and the minimum wage in 2022.
The Russian president emphasized that "the social sphere is central in our state policy and one of the key priorities of the federal budget."
According to Putin, the indexation of the cost of living by 2.5%, which is now included in the draft federal budget for next year, is not enough. He pointed out that "such parameters are significantly behind the current inflation rate, which has accelerated in recent months."
"I propose to set a higher level of the subsistence level for 2022, to increase it at a faster pace than inflation, namely by 8.6%. In absolute terms, the subsistence level for the country as a whole should rise to 12,654 rubles per month, which is one thousand rubles more than today," the Russian leader said.
Various social benefits will also grow, connected with the size of the living wage. “Let me remind you that millions of our citizens receive these benefits,” he said.
In addition, Putin ordered to increase the minimum wage in 2022 by 8.6%.
"The Constitution of Russia enshrines the norm that the minimum wage cannot be less than the subsistence level, which means that the minimum wage should rise simultaneously with the indexation of the subsistence level. Next year it will be increased also by 8.6%, in absolute terms by about 1,100 rubles. As a result, the minimum wage next year will amount to 13,890 rubles per month," the president said.