A more significant decrease in the real incomes of citizens of the Russian Federation was only in 2015 – after the annexation of Crimea and the economic sanctions imposed on Russia as a result.
Real wages in Russia in April 2022 dropped in annual terms for the first time since April 2020 – by 7.2%. This is confirmed by Rosstat data.
According to Rosstat, the nominal wage of working citizens has not changed much, but due to rising prices, the purchasing power of Russians has decreased.
It is reported that the decline in real incomes of citizens of the Russian Federation has reached a maximum over the past seven years: it was more significant only in 2015 – after the annexation of Crimea and the economic sanctions imposed on Russia Consequently.
The decline in real income has traditionally hit public sector employees the hardest: doctors and social workers (11.4%), scientists, university professors (10%) and teachers (9.1%). They have received wage increases in recent months, but the increases have not kept pace with inflation.
The report says that the volume of retail trade in Russia dropped by 10% compared to the beginning of February; import volume – by 40%.
Remember, Fitch predicts a record decline in the Russian economy: according to forecasts, the war in Ukraine will cause more losses to the Russian economy than due to the default in 1998.
It was previously reported that in the first quarter of 2022, the number of Russian citizens with incomes below the poverty line reached 20.9 million people.
News from Athletistic in the Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.