MOSCOW, September 18. /TASS/. Total expenditures in the public sector by raising the minimum wage (SMIC) will be in 2018 26.2 billion rubles, said Monday the Deputy Minister of labor and social protection Lyubov eltcova at the meeting of the Russian trilateral Commission for regulating social-labour relations.
The bill of the Ministry of labor expects to set 1 January 2018, the minimum wage of 9,489 thousand (85% of the subsistence minimum for the II quarter of 2017), and from January 2019 to increase the minimum wage to 100% of the subsistence minimum.
“Total expenses in the public sector by raising the minimum wage will amount to the previous year in 2018 26.2 billion rubles, including from the Federal budget of 7.2 billion rubles in 2019 43.9 billion, including from the Federal budget – 12 billion rubles,” – said elcova.
“Additional demand in the real sector of the economy, according to the Ministry of labor, will be in 2018 17.1 billion rubles, and in 2019 – 28.8 billion rubles”, – she added.
The Deputy Minister stressed that one-third of budget spending returned to the budget system in the form of payment of insurance contributions and income tax.