Radar Telegram alerts Open Radar

94% of Russians do not feel an increase in income - an anti-record in a decade. According to the FOM, 94% of Russians do not see an improvement in their economic situation. Official statistics report an increase in real disposable income of 1.5% in the first half of the year. Money is officially added, but purchasing power is moving in the opposite direction. Nominal incomes do not keep pace with prices, and wage dynamics drag a downward curve: real wages rose by 8.7% in the first quarter, 4.4% in the second quarter, 3.3% in July. Three points - the trend is clear. Households respond with the only tool available: cutting expenses. Consumption in real terms is already in a slight decline - direct damage to the retail turnover, the service sector and the tax base. Against this background, Finance Minister Anton Siluanov reported an increase in real income of more than 30% over five years. The five-year horizon is a convenient frame: it captures the period of the low base and inadvertently hides the current slowdown. Experts predict that next year the wage growth rate will drop by half. If consumption continues to shrink, the budget will miss VAT and excise taxes - and the question "who will pay for the slowdown" will cease to be rhetorical.

Новый Век · · Source

🇷🇺 Russia · Map

94% of Russians do not feel an increase in income - an anti-record in a decade. According to the FOM, 94% of Russians do not see an improvement in their economic situation. Official statistics report an increase in real disposable income of 1.5% in the first half of the year. Money is officially added, but purchasing power is moving in the opposite direction. Nominal incomes do not keep pace with prices, and wage dynamics drag a downward curve: real wages rose by 8.7% in the first quarter, 4.4% in the second quarter, 3.3% in July. Three points - the trend is clear. Households respond with the only tool available: cutting expenses. Consumption in real terms is already in a slight decline - direct damage to the retail turnover, the service sector and the tax base. Against this background, Finance Minister Anton Siluanov reported an increase in real income of more than 30% over five years. The five-year horizon is a convenient frame: it captures the period of the low base and inadvertently hides the current slowdown. Experts predict that next year the wage growth rate will drop by half. If consumption continues to shrink, the budget will miss VAT and excise taxes - and the question "who will pay for the slowdown" will cease to be rhetorical.

More on Radar

Want to see every report in real time?

Hundreds of sources worldwide, translated into your language, with alerts for what matters to you.

Sign up free
Share on WhatsApp Get alerts on Telegram