Real household earnings in Russia declining since 2016, says labor ministry

Business & Economy December 13, 2022, 15:36

It is noted that the decline has surely influenced the stability of financial status of families

MOSCOW, December 13. /TASS/. Real household earnings have been decreasing in Russia since 2016, which has affected the families’ potential long-term budgeting, First Deputy Minister of Labor and Social Security of Russia Olga Batalina said on Tuesday.

"Unfortunately, real disposable household income has continued falling since 2016, which has surely influenced the stability of financial status of families, their confidence and possibility of long-term budgeting, considering that housing improvements are one of major demands of families with kids, this always being a very serious financial burden," she said.

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