Drop in real income of Russians almost doubled in 2016

income_drop_doubled

According to the Federal Statistics Service (Rosstat), In 2016 the real income of Russians decreased by 5.9% compared with the previous year.

In 2015 Rosstat recorded a drop of real income by 3.2%, in 2014 – by 0.7%. Before that, real income of Russians was increasing for several years.

In nominal representation the average income of Russians in 2016 amounted to 30,775 rubles per month (approx. $514 – RRT), which is 1% bigger than in 2015.

Real disposable income is income minus all mandatory payments, corrected by consumer price index.

In November 2016 the first Vice Prime Minister Igor Shuvalov said that the fall in real income was over.

Source: meduza.io