The President of the Russian Federation Vladimir Putin signed the Federal Law dated December 1, 2014 No.408-FZ "On introducing the changes to article 1 of the Federal Law "On Minimum Wage Rate". The document is published on the Official Internet Portal of Legal Information.
Pursuant to the new law the Minimum wage will be increased up to 5,965 roubles per month (currently –5,554 roubles per month). The minimum wage will be increased starting from January 1, 2015. It is planned to use about 5.6 billion roubles to implement this measure.