Economist reported nearly 40% of Russians with high incomes

The results of the second quarter of 2024 show that 40% of Russians receive about 70% of income. This was stated on Friday, November 22, by Igor Balynin, associate professor at the Department of Public Finance of the Financial University under the Government of the Russian Federation.

According to him, the distribution of income of the Russian population in the second quarter of 2024 remained the same as in the same quarter of 2023: the least well-off percentage of the population receives 9.9% of income, average earners - 20.6%, and the most well-off 40% - 69.5% of income.

"At the same time, the income of the population located in the first decile group increased by 12.4% over the year. While the incomes of citizens from the 10th decile group increased by 11.3% over the year," he told Gazeta.Ru.

Balynin said that the reduction in income inequality, which economic indicators are striving for, is due to a significant increase in the minimum wage (MROT). He noted that the increase was raised by 18.5% to 19242 rubles in 2024.

Russian President Vladimir Putin on October 29 approved the minimum wage for 2025 in the amount of 22,440 rubles. The law on raising the minimum wage from next year was sent to the President for signature on October 25. In late September, it was submitted to the State Duma by the Russian government. In October, it was adopted in all three readings, as well as approved in the Federation Council.