The government and social partners have united around a mechanism for setting the minimum wage for the country, the government press service reported.
The change in four indicators with equal weight will determine how much the minimum wage can increase:
* Small consumer basket price index - to determine the purchasing power of the minimum wage, taking into account the cost of living;
* Gross median wage - to determine the general level of wages and their distribution;
* Gross average wage - to determine the growth rate of wages wages;
* Gross value added per employee for the last 10 years - to determine the long-term levels of labor productivity in the country.
The minimum wage for each subsequent year will be in a range of lower and upper limits. The lower limit is the minimum wage for the last year. The upper limit is determined by the weighted average value of the four indicators indicated, and the data will be provided by the National Statistical Institute for the completed year.
The procedure for forming the minimum wage will include several stages.
By April 1, the Minister of Labor and Social Policy will provide the social partners with data on the range in which they should determine the minimum wage, including the information on the basis of which the upper limit was obtained. Employers and unions have until May 15 to negotiate the minimum wage, and until May 31 to prepare a report.
Taking into account the report of the social partners, the Council of Ministers will determine the final amount of the minimum wage for the next year.
The adequacy of the minimum wage will be assessed every 3 years.
"I am extremely grateful for the constructive dialogue that we held with the employer and union organizations. We have made serious progress in determining the mechanism by which the minimum wage formula will be calculated," said the Minister of Labor and Social Policy Natalia Efremova after the talks.