Russia sets minimum monthly wage at 88 dollars

The minimum monthly wage in Russia will be raised to 2,300 rubles (88 U.S. dollars) starting from Sept. 1, 2007, Russian news agencies reported on Friday.

The lower house of parliament has passed a law to that effect in the second reading. The bill was adopted in the first reading on Dec. 8, 2006, and it was planned then that the minimum salary would grow to 2,000 rubles.

The growth will be gradual, and the minimum salary will increase from current 1,100 rubles (42 dollars) to 1,400 (54 dollars) on May 1. The bill also allows regions to set their own minimum wages, which, however, cannot be smaller than the federal one.

Source: Xinhua