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Life on minimum wages: how salaries and pensions have been changing in Kazakhstan

Once again on behalf of the President the minimum wage in Kazakhstan will be raised from 60,000 tenge to 70,000 tenge. LS decided to reflect in the infographic how the main calculated rates as well as GDP per capita were changing over the past 10 years.
Life on minimum wages: how salaries and pensions have been changing in Kazakhstan

The level of the minimum wage has increased by 3.2 times since 2013 and currently stands at 60 thousand tenge. However, it remained unchanged (42.5 thousand tenge) from 2019 to 2021, and as of last year it increased to 60 thousand tenge. This amount will be raised again to 70 thousand tenge after a while.

As for the minimum pension, it has also increased 2.5 times over the specified period (from 19.1 thousand tenge to 48 thousand tenge). The largest increase in rate was observed in 2017 (by 5.4 thousand tenge) and in 2022 (4.8 thousand tenge). The annual increase in the minimum pension is about 3.3 thousand tenge in average.

The size of the minimum calculation index (MCI) also changes every year, this year it has reached 3.1 thousand tenge. MCI has increased by 1.8 times since 2013. The growth was 146 tenge compared to last year.

Besides, one of the main indicators of the country's economic development, GDP per capita, has grown by 2.1 times from 2013 to 2021. Last year it reached 4.4 million tenge, which was 700 thousand tenge more than in the previous two years. This is the largest GDP growth for the analyzed period.

Source: https://lsm.kz/mrp-mzp-vvp

Photos are from open sources.

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