Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

New Wage Figured In

MOSCOW () -- The increase in the minimum wage approved by the Duma will cost federal and regional budgets about 3 trillion rubles a month, an economics ministry official said Thursday, Interfax reported.

Nikolai Lagutin of the ministry's finance department said the 26 percent increase approved Wednesday, from 43,700 rubles a month to 55,000 rubles, could be accommodated in the federal budget because tax revenues were rising along with gross domestic product