The article reveals the socio-economic factors of overcoming poverty in Russia and the region. The analysis of the published statistical indicators and data sets of the VTsIOM revealed that poverty in Russia at the present stage has its own characteristics: chronic absolute, significant regional differentiation, the allocation of the category of the working poor, and the prevalence of families with children. The dominant current trend is a (partly artificial) reduction in the absolute poverty of Russians. However, there are many factors of its reproduction at the expense of the poor-off strata of the population. Therefore, poverty reduction strategies are an integrated set of long-term measures aimed at sustainably reducing socio-economic inequality and improving the standard of living of the population. In order to reduce the level of poverty of the population, it is fundamentally important to revise approaches to calculating the minimum wage, the subsistence minimum in line with global trends and to reopen the existing proportions of the poor. In addition, it is necessary to revise the existing taxation system in terms of income tax, tax benefits for poor citizens. It is important to adjust and clarify targeted social assistance to the poor. It is also necessary to improve labor legislation to adapt it to the realities of the modern economy. The amount of wages of employees should be directly and clearly linked to the quality and quantity of labor. The use of new forms of labor relations, such as part-time, flexible and remote employment, will create additional opportunities to reduce poverty among Russians.