New economic measures as of February 1

On February 1, 2024, new measures took effect as part of an update to socio-economic policy. The subsistence minimum budget (SMB) increased to 497 rubles—a rise of over 1%. Benefits for families with children have been raised: for the birth of a first child, a payment of 10 SMB will be made; for a second and subsequent children—14 SMB. Age-based pension supplements have been expanded: an increase of 93 rubles for individuals aged 75 and older, and 186 rubles for those aged 80 and older. Within the Unified Payment System (ERS), certain banking operations have become free: topping up current and settlement accounts, deposits, and making loan repayments (principal debt and interest) are no longer charged. The Tax Code has been updated: fees for owners of agro-eco-farms have increased from 42 to 45 rubles per month, while craftsmen now pay 10 rubles instead of 7. These changes aim to improve social support and reduce transaction costs for banking customers.

Context

Expansion of social benefits and raising the SMB to 497 rubles—these measures continue the tradition of regular economic adjustments in the country.