Every second working resident of Russia (48%) faces financial difficulties. Over the past four years, this figure has grown significantly: in 2020, only 35% of Russians reported regular problems with money, according to the results of a study by the NAFI analytical center.
More than a third (34%) of such people noted that they often experience financial difficulties, 14% said that they very often. 45% of respondents said that they rarely have problems with money, 5% – never. At the same time, the most resistant to financial difficulties are young Russians under 25 and people with higher education. In these categories, the share of those who noted the absence of problems with money was 17% and 9%, respectively.
Of those experiencing financial problems, 55% reported that it negatively impacted their work efficiency. The most negative consequences were decreased motivation (23%), decreased attention and concentration (19%), a general decline in work capacity (17%), spending work time on solving personal financial problems (11%), and increased irritability (8%).
According to the Russian authorities, Russian citizens are getting richer every year. According to the latest data from Rosstat, the growth of real wages of the country’s residents in September accelerated to 8.4% year-on-year, compared to 7.7% the previous month. The nominal average monthly wage (before deducting personal income tax, taking into account allowances and bonuses) reached 84,324 rubles, an increase of 17.8% compared to the same period in 2023, the department believes. At the same time, the Ministry of Economic Development predicts that by 2027, the average monthly nominal wages of Russians will increase to 119 thousand rubles. The department presented these figures in an updated forecast for the socio-economic development of Russia.
At the same time, Rosstat data published in October by RIA Novosti indicate that the overwhelming majority of Russian families did not have enough money for all necessary expenses. According to the agency’s report, only 4.9% of households had the funds to cover all their needs in April–June 2024.
In September, the State Duma stated that every fifth family with children cannot afford anything except food. “From 45% to 60% of families receive enough to buy food and clothes, but can no longer buy a refrigerator and a TV. In other words, truly poor families with children make up 70% of the total number of families with children living in the country,” said Nina Ostanina, head of the Duma Committee on Family Protection, Fatherhood, Motherhood, and Childhood.
Against this background, parliamentarians did not rule out the introduction of food cards throughout the country. In particular, the idea was supported by the head of the State Duma Committee on Financial Markets, Anatoly Aksakov. He said that “the initiative has a sound basis” and it should be extended to all of Russia: this way, “people in need” will “know under any circumstances that they are provided with the appropriate minimum of products and goods that are necessary for life.” Before this, the governor of the Kaliningrad region, Alexey Besprozvannykh, announced the introduction of food coupons for vulnerable groups of the population.
(c)THE MOSCOW TIMES 2024