Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Poll shows more than 20% of Russians tightening belts

November 21, 2018, 12:56 UTC+3 MOSCOW

According to the poll, Russians can be divided into four groups based on their consumer well-being

1 pages in this article
© Artiom Geodakyan/TASS

MOSCOW, November 21. /TASS/. Every fifth Russian lives in rigid austerity with their incomes only allowing them to afford only essential products, a survey by the Institute for Social Analysis and Prediction of the Russian Presidential Academy of National Economy and Public Administration (RANEPA) showed.

According to the poll, Russians can be divided into four groups based on their consumer well-being. As such, 22% of Russians, whose incomes don’t not allow them to buy anything beyond essential foods, live in poverty.

More than a third of those polled (35.6%) are in the consumer risk zone, meaning their incomes ensure proper nourishment and casual clothes, but the purchase of durable goods (with limited shelf life) is very difficult. There are no prospects for these people to improve their financial standing.

A total of 14.1% of those polled have been included into another zone, representing prospects for changes. Their current incomes make it possible to buy fine food and clothing. The purchase of durable goods is currently hard for these Russians but the respondents expect an increase in their economic security in the future. The last group, the so-called consumer comfort zone, comprises 28.3% of those polled. They can afford durable goods and do not expect a decline in living standards.

Russian Labor Minister Maxim Topilin previously said that 20 million Russians live below the poverty line. The ministry is now working on special programs to wipe out poverty nationwide with the pilot project kicking off in six regions in 2019.

Show more
In other media
Partner News