Number of Russia’s Poor Up 300,000 People

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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