The Russian government has approved the procedure for determining the poverty level, the press service of the Ministry of Labor reports.
"The government has approved the procedure for determining the poverty level in Russia as a whole and by region. When calculating the poverty level indicator, instead of the subsistence minimum, which is now set depending on the median income, a new indicator will be used - the poverty level,” the department explains.
The initial poverty level is set at the level of the last calculated value of the subsistence minimum based on the consumer basket (4th quarter of 2020). The indicator will increase in accordance with the inflation rate on a quarterly basis.
