Rosstat: 16% of Russians live below poverty line

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On June 17 Rosstat (Russia’s statistics agency – RRT) released shocking data that in the first quarter of 2016 the income of 15.7% of the population plummeted below the living wage.

Currently, the living wage is 9,776 rubles (approx. $150 – RRT) a month, and the income of 22.7 million Russian citizens is below this level.

Nevertheless, the average per capita income of Russians has grown in Q1 to 26,328 rubles (approx. $410 – RRT), which is 3.7% more than in Q1 of 2015.

This means that the income of the “rich” part of the population increased significantly, while the number of poor has grown at the same time.

Falling of incomes of Russians began after the annexation of the Crimea in 2014, and by the end of 2015 3.1 million people in Russia crossed the poverty line.

In 2016, according to the World Bank, the number of poor in Russia could increase by another 1.1 million people, if the average oil price stays at the expected level of $38 per barrel.

Source: shipilov.com