The Russians became dramatically less money available

Amount of so-called “free money” in the average Russian household has decreased in April by 40% yoy and amounted to 17.6 thousand rubles, estimated by experts “romira”.

As explained by the research holding that “this amount of money average family had at their disposal after the purchase of consumer goods, including food, payment of utility bills, transport and communication etc.”.

“And these funds could be spent on the payment of loans, purchase of durable goods, major purchase, education, medicine, entertainment, leisure or deferred in the form of savings”, — the “Romira”.

However, relative to the previous month, the volume of available money increased in April to 31%, however, “despite the increase versus the last period”, holding analysts warn that “the April value of ISD (Index of “free money” — ed.) indicates structural changes of welfare of citizens”. “The March decline could be explained by the increase of expenses in connection with the beginning of a period of self-isolation. The April decline compared to last year says more about the rising costs and lower incomes”, — emphasized in “Romira”.

Recall that in early may the experts of the Institute “development Center” NRU “Higher school of Economics” (HSE) does not exclude that in the conditions of economic crisis caused by the pandemic coronavirus infection COVID-19, the fall in real disposable incomes of Russians in the II quarter of current year 2020 it may reach 20%.

Moreover, analysts estimate adopted at the time the government and Central Bank support measures mitigate this decline by only 2.2 percentage points. “For the whole year the decline in real income could range from 8 to 12%,” thMorelos in the review of HSE.

Earlier, the Central Bank of the Russian Federation presented the results of a telephone survey of the company “the old”, according to which in Russia is practically every tenth payer loans (11%) over the past two weeks — a month “lost revenue”. “Still about the same (10%) experienced a decline in revenue by more than half; a little more than 14% of taxpayers — lost a third to half of the income”, — stated the regulator.

“Thus, a total of 35% of borrowers (16% of all respondents) fell into the risk group after the first month after the introduction of restrictive measures in connection with epidemic. The decline in revenue less than one-third occurred in only 12% of taxpayers, half of the borrowers income has not decreased”, — stated in the report.

the Survey also showed that 39% of respondents saving at the time of the survey was not. Yet 32% of the savings were, but they last time they did not spend. Of having savings in General (both spending and not spending them) at least half (or 24% of all respondents) believe that in the event of a total loss of income he had accumulated enough for three months or more, a third (32%) believe that they will last for one to two months, the sixth part less than a month.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of the implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

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