Real incomes of Russian population to decrease by 6% this year

Real incomes of Russian population to decrease by 6% this year
  • Clock-gray 16:47
  • calendar-gray 27 May 2020

The real incomes of population in Russia will decrease by 6% until the end of the current year, said Russia’s Economic Development minister Maksim Reshetnikov, "APA-Economics" reports citing "Vesti.ru".

He said the government’s crisis combating measures have slowed down the pace of decrease of the incomes: "If those measures weren’t adopted, the rate of reduction of incomes in II quarter of 2020 would be significantly greater – i.e. up to 7.5%".

According to forecasts of the Economic Development Ministry, the people’s incomes and salaries will increase by 3% in real expression next year. The unemployment rate in Russia is expected to be 5.7% by the end of the current year.

The greatest decline in incomes and GDP is expected to take place in summer. According to forecasts of the Economic Development Ministry, the GDP production will decrease at least by 9.5%, and people’s real incomes – by 6% in annual expression in Russia in II quarter of the current year.

APA-Economics

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