Russia Ramps Up Efforts to Reduce Poverty Levels
(MENAFN) The Russian government plans a dramatic increase in financing for its national "Family" program, aiming to allocate 3.24 trillion rubles (approximately 42 billion U.S. dollars) to reduce poverty levels below 7 percent by 2030, Prime Minister Mikhail Mishustin declared Tuesday.
Data from Russia's Federal State Statistics Service reveal that 8.1 percent of the population—about 11.9 million people—were living under the poverty line in the first quarter of 2025.
Addressing economic measures, Mishustin emphasized the government’s commitment to raising the minimum wage annually at rates surpassing inflation. "Since the beginning of this year, the minimum wage has increased by over 16.5 percent, exceeding 22,400 rubles. And starting Jan. 1, 2026, it will increase by more than 20.5 percent to 27,093 rubles."
Unemployment remains exceptionally low, with official figures reporting a 2.1 percent rate in August, maintaining historic lows. Despite this, labor demand continues to outpace supply, with many industries grappling with acute worker shortages.
“We will continue to create conditions across the country to enable citizens to build careers and earn decent salaries. It is important to take into account all challenges that have emerged or could potentially hinder the country's development,” Mishustin stated.
(1 Russian ruble = 0.013 U.S. dollar)
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