Incomes of Russians in 2022 fell by 1%

The real disposable cash income of Russians (income minus mandatory payments, adjusted for the consumer price index) decreased in 2022 compared to 2021 by 1%, according to data from the Rosstat report “The Socio-Economic Situation of Russia” (.pdf).

In the first three quarters of 2022, the real incomes of the population were declining. In the fourth quarter, the indicator increased by 0.9% compared to the same period in 2021. By the fourth quarter of 2022, the role of social benefits and income from entrepreneurial activity has increased in the structure of incomes of Russians, and the share of wages and income from property has decreased, Rosstat notes.

The Ministry of Economy in its September forecast expected a fall in real incomes at the level of 2.2%. In 2023, the agency expects revenue growth of 1.2%.

For more details, see Kommersant’s article “It’s already unprofitable to live on a salary.”

Erdni Kagaltynov

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