Putin: Increase of subsistence level by 2.5% in 2022 not enough

MOSCOW, Nov 18 (PRIME) -- The Russian budget earmarked a 2.5% increase of the minimum monthly subsistence level in 2022, but it should be raised by 8.6% to 12,654 rubles, President Vladimir Putin said on Thursday at a government meeting.

“The federal budget draft for the following year includes indexation of the subsistence level by 2.5%. It is obviously not enough, as these parameters lag significantly behind inflation that has sped up over the past months,” he said, suggesting an increase of 8.6% or 1,000 rubles to 12,645 rubles for the year.

The minimum monthly wage should also be raised by 8.6% to 13,890 rubles in 2022, he said, ordering the presidential administration to prepare the amendments so that Putin is able to submit them to the State Duma, the parliament’s lower chamber, as soon as possible.

Social liabilities are the priority for the federal budget, and social payments will rise in 2022 following the change in the minimum subsistence level as they are tied to the indicator, he said.

It would be wrong for the government to go against the principle of raising pension payments faster than inflation, Putin added.

(72.8228 rubles – U.S. $1)

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