Putin signs new minimum wage law
Published: Dec. 31, 2004 at 3:40 PM
MOSCOW, Dec. 31 (UPI) -- Russian President Vladimir Putin has signed amendments to the law on the minimum wage, the Kremlin press service reported on Friday.
The State Duma, the main chamber of the Russian parliament, passed the amendments on Dec. 17 and the Federation Council, the upper house of parliament, approved them on Dec. 24, Interfax news agency said.
The amendments raise the minimal wage to 720 rubles, or $26, a month as of Jan. 1, to 800 rubles, or $29, as of Sept. 1 and to 1,100 rubles or $40 as of May 1, 2006. The rises exceed the estimated increase in retail prices and should bring the minimal wage to a living wage, Interfax said.
The State Duma, the main chamber of the Russian parliament, passed the amendments on Dec. 17 and the Federation Council, the upper house of parliament, approved them on Dec. 24, Interfax news agency said.
The amendments raise the minimal wage to 720 rubles, or $26, a month as of Jan. 1, to 800 rubles, or $29, as of Sept. 1 and to 1,100 rubles or $40 as of May 1, 2006. The rises exceed the estimated increase in retail prices and should bring the minimal wage to a living wage, Interfax said.
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