Elena Buturlim18:19, 12.02.24
Revenues rose last year, but they are still below the levels of a decade ago.
At the end of 2023, real incomes of the Russian population increased by 5.4% (adjusted for inflation, what remains in the hands of Russians after mandatory payments). In nominal terms, income increased by 10.9% and amounted to RUB 50,265. However, income is still less than 10 years earlier, writes The Moscow Times .
It is noted that the two main reasons for the increase in incomes of Russians are the personnel crisis and a decrease in inflation. Unemployment last year set a historical record of 2.9% in the fall (3% in December). Because of this, wages are growing at a faster pace, noticeably faster than productivity growth and inflation. The slowdown in inflation from 11.94% in 2022 to 7.42% in 2023 also affected real incomes.
According to journalists, this year there will also be an increase in income, but even in this case, real income will be good if it reaches the level of 2013. For now they remain lower – and have been like that for 10 years.Video
“Regarding our income from 2014-2023, we can safely call it a lost decade,” the publication writes, citing MMI analysts.
At the same time, it is indicated that the fall in the ruble exchange rate has pushed the incomes of Russians in dollar terms far back. In 2013, the average Russian’s income was $806 per month, in 2014 – approximately $715, and in 2023 – $586.
“In dollar terms, our income will probably never return to the level of 2013,” conclude MMI analysts.
Economy of Russia
Russia is experiencing faster economic growth than any G7 country, but the nominal growth figures are fueling skyrocketing arms production costs. In the long term, this economic model puts Russia at great risk.
Also, the Russian economy is suffering long-term setbacks but is increasingly dependent on China due to the protracted war that the Kremlin started. This is stated in an article by Director of the US Central Intelligence Agency William Burns.
(C)UNIAN 2024
“Russia is experiencing faster economic growth than any G7 country”. Huh?
Russian GDP was 1.8% in 2023. The US alone was above 3%. What is the author thinking ?
Good question, Captain! Also, all serious economists agree that GDP is a questionable indicator of economic growth. When something gets destroyed and has to be replaced, as common in a war, that increases GDP, without improving the economic capabilities or the assets of a country one bit. It’s like Sysiphos’ attempt to roll a boulder up a hill – incredibly hard work, just to keep the level, if at all. So, that’s some phony “economic growth” that doesn’t lead to people enjoying better lives.
Reality may be even worse for most people, since these are average numbers that include the killing (quite literally so) that war profiteers are making, at the expense of the country. Also, this is most likely based on official numbers and authorities certainly sugarcoated those.
So, tough luck for average Russians. But if they accept that they have to live in misery in order to finance Putin’s evil fantasy of a new Tsarist empire, that’s their own fault.
Anything that you hear coming out of mafia land, including its economic numbers, remember the Stichwörter “Potemkinsches Dorf”.
Russians. They accept that they have to live in misery.
They seem to consider it THE only way to live, in their twisted fucked up world, if you aren’t suffering then the Country isn’t benefitting.
What’s worse is that the rashists want everyone else to suffer as much or more than they do.
Yeah, that’s their definition of “fairness”. Like, “hey, if others suffer more than we do, times aren’t so bad at all!”
Horrible fools.
They don’t mind eating grass and frying rats if it makes their master happy.