In 2003, the national minimum wage in Russia remained fixed at €14.7 per month, that is 176 euros per year, taking into account 12 payments per year.
If we look at the minimum salary in Russian Rubles, which is the official currency in Russia, we can see that, this year, it was 488 Russian Rubles and accordingly, the national minimum wage has been raised 88 Russian Rubles per month from the previous year, 22%. This increase is greater than the CPI of 2002 which was 15.1%, so workers have gained buying power in the last year.
If we look at the ranking of the national minimum wage that we publish, Russia is in 67 nd place, so it is among the countries with the lowest minimum salary of the 72 of the list.
The National Minimum Wage (NMW) of a country is the minimum amount (lowest salary) per hour, per day, or per month that employers may legally pay to workers.
In the table that follows we show you the progression of the National Minimum Wage Russia. You can see NMW in other countries in National Minimum Wage 2003 and see all the information about this country in Russia economy.