Russia is predicted to increase poverty by 2019
The income of more than 20 million Russians in 2019 will be less than the subsistence level.
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Chairman of the Accounts Chamber Tatyana Golikova stated this today at parliamentary hearings in the Federation Council of the Russian Federation.
“The projected growth rates of real incomes of the population and real wages do not allow reaching the 2019 level in 2014. It is expected that the number of people with monetary incomes below the subsistence level relative to the total population will increase and will amount to 13,9% in 2017, 14,1% in 2018, 13,9% in 2019. This is approximately 20 million of our citizens. 1,4 million more people than in 2015,” Golikova said.
In her opinion, the increase in retail trade turnover planned by the Russian government for the next three years is not justified.
“It is unclear from the forecast which factors will ensure growth in final consumption. In 2017-19, the population’s income is expected to increase by 1,5%, wages by 4%, and the real average annual pension will decrease by 2,1%,” Golikova said.
She also noted the difference in forecasts for the growth of consumer loans from banks (4-6%) and the government (7,4%).
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