The current minimum wage in Russia is RUB16,242.00 per month in 2023. It became valid on January 1, 2023. The amounts are in Russian Ruble.
Russia Monthly Earnings stood at 1,026 USD in Oct 2022, compared with the previous figure of 1,035 USD in Sep 2022 See the table below for more data.
In 2021, the average nominal salary in Russia was measured at approximately 56.5 thousand Russian rubles per month, marking an increase by around 5.2 thousand Russian rubles compared to the previous year.
On average, Russians named 66,000 rubles ($1,000) as a decent monthly salary, according to the government's Financial University survey cited by the outlet. The figures ranged from 50,000 rubles in Siberia to 100,000 rubles in Moscow.
Expats in Russia will find the cost of living to be reasonable. In Mercer's Cost of Living survey for 2021, Moscow was ranked 62nd out of 209 cities, while St Petersburg was ranked 119th. Although Russia cannot be regarded as a cheap country to live in, as a whole, it is more affordable than many western countries.
Life for expats in Russia is generally comfortable, with expenses such as groceries and utility bills being fairly inexpensive even in major cities such as Moscow. Outside of the major metropolitan areas, prices are even cheaper, with lower bills for food and transportation.
Russia is the world's 9th largest economy by nominal GDP, 6th largest by PPP and has the highest per capita GDP ($13,765) of the BRIC countries.
Russia is a high-income country with the world's 11th largest economy. Its natural resources, including crude oil, natural gas, and energy, have spurred its GDP growth over the last two decades, leading to significantly improved living standards for many.
Go for a four-pack of yogurt (about 25 rubles per cup), a loaf of bread (20 rubles), or bottled water (15 - 100 rubles).
The price of Combo meal in fast food restaurant (Big Mac Meal or similar) in Moscow is руб 381. This average is based on 39 price points. It can be considered reliable and accurate. Latest update: December 22, 2022.
Coffee: 65 - ₽ 150 ( US$ 2.20). Beer: ₽ 300 ( US$ 4.40). Small bottle of water: ₽ 100 ( US$ 1.50). Two course meal in a restaurant: ₽ 1,200 ( US$ 17.60).
As of 2021, Hungary had the lowest average monthly salary of employees in the world in terms of Purchasing Power Parities (PPP), which takes the average cost of living in a country into account. Zimbabwe had the second lowest average wages, with Ethiopia in third.
Poverty in Russia is ongoing and multi-dimensional. Diminishing oil profits, one-dimensional economic conditions and government sanctions play a major role in the poverty problems in Russia. A struggling agricultural sector and sanctions on U.S. goods cause serious problems for food security in Russia.
The Russian tax system tends to use moderate flat or regressive tax rates. It is highly centralized for a federal state and relies heavily on proceeds from oil and natural gas corporations, who themselves are mostly state owned.
A kilogram of bananas, oranges, or apples costs about 80/90/100 rubles, respectively (on sale), a carton or bottle of milk costs about 80-100 rubles, a carton of eggs costs about 70-100 rubles, a loaf of bread costs about 40-60 rubles, and a kilogram of flour costs about 70 rubles, depending on the store (see below).
Home Ownership Rate in Russia averaged 83.94 percent from 2000 until 2021, reaching an all time high of 92.50 percent in 2020 and a record low of 58.20 percent in 2000.
In Russia, you pay your electricity bills according to meter readings. The cost for installing and maintaining electricity meters is the responsibility of energy companies, and the data is transmitted automatically to the supplier. Electricity costs in Russia are significantly lower than elsewhere in Europe.
The average price of a new car in Russia decreased to 2.3 million rubles. The average cost of a new car in Russia over the summer fell to 2.3 million rubles. This is reported by RIA Novosti with reference to a study of the service "SberAuto".