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BackThe Ministry of Economic Development raised the forecast for wage growth in Russia to 35% by 2029
The Ministry of Economic Development raised the forecast for wage growth in Russia to 35% by 2029
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Лента.ру2 hours agoBusiness1 min readRussiaView original

The Ministry of Economic Development raised the forecast for wage growth in Russia to 35% by 2029

salaryMinistry of Economic Developmentforecast

Quick Look

  • Average monthly nominal salaries of Russians will increase by 35% by 2029 relative to 2025, according to the updated forecast of the Ministry of Economic Development.
  • In 2025, growth is expected by 10.3% to 112,279 rubles, and in 2029 - to 137,362 rubles.
  • The forecast for real wages in 2025 has been raised from 2.2% to 4%.

AI-generated summary

Why It Matters

The socio-economic development forecast for 2027-2029 was updated by the Ministry of Economic Development and published in the media. It includes indicators on wages, inflation and GDP.

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Over four years, the average monthly nominal wages of Russians will increase by 35 percent compared to 2025. This is stated in the updated forecast of socio-economic development for 2027-2029 authored by the Ministry of Economic Development, which Vedomosti refers to.

The basic option assumes that this year the figure will increase by 10.3 percent, to 112,279 rubles. We are talking about the amount of salary before deduction of personal income tax (NDFL), but taking into account bonuses and allowances.

In 2029, the average nominal salary should increase to 137,362 rubles per month, although in May the department expected an increase to 132,063 thousand. This is lower than in the current conservative scenario, in which the indicator is projected to increase to 135,630 rubles.

The Ministry of Economic Development also raised its forecast for real wage growth this year from 2.2 percent to 4 percent. However, due to the higher base, the result for the next two years will be slightly worse than in the April version - 1.8 versus 2.5 percent and 2.4 versus 2.8 percent.

What to Watch

AI outlook — possibilities, not facts

  • The average nominal salary in Russia will reach 137,362 rubles per month by 2029

    Likely · Within years

  • Real wage growth in 2025 will be 4 percent

    Likely

Open Questions

  • How will inflation change in the period 2027-2029 according to the new forecast?
  • Which sectors of the economy will benefit most from rising wages?
  • What unemployment rate is projected in the updated scenario?

Related Topics

salary
OrganizationsMinistry of Economic DevelopmentVedomosti
PlacesRussia
TopicsMinistry of Economic DevelopmentforecastRussianominal salaryreal salary2025
This article was originally published by Лента.ру.

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