Number of Russia’s Poor Up 300,000 People

7 April 2017 (11:47)

UrBC, Moscow, April 7, 2017. Russia’s official poverty rate (the number of people with monthly incomes below the cost of living) has gone up from 13.3% in 2015 to 13.5% in 2016, Kommersant refers to Rosstat as stating.

The number went up by 300,000, up to 19.8m people, which is the highest it has ever been since the year 2006. This means a decade-long attempt to overcome poverty is no longer a success.

This has been brought about by the ongoing decline in people’s incomes in 2015 and 2016. Last year, Russians’ factual disposable incomes were 9.5% lower than in the year 2013, and their actual pay and pensions were, respectively, 7.3% and 6.2% lower than in 2013, the Russian Presidential Academy of National Economy & Public Administration states.

At the same time, the richest citizens’ incomes kept growing last year: the share of those whose monthly income amounts to over 45,000 RUR a month went up by 0.4% and now comes to 19% of the population.

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