The Ministry of Economic Development has lowered its forecast for the growth of real disposable income of Russians in 2021 from 3% to 2.5%, Izvestia reported, citing the press service of the ministry. According to Rosstat, by the end of 2020, real incomes of the population decreased by 2.8%.
“The dynamics of real disposable income is projected in 2021 at the level of 2.5% [роста]”, – reported in Minek. In the previous forecast, revenues were expected to grow by 3%. The ministry explained that growth will be of a restorative nature and will be ensured by an increase in the labor income of Russians due to an increase in real wages and the restoration of the number of employed. The increase in income from property and business activities will also affect the growth of income. In Russia, there are targeted measures to support families with children, the unemployed and those in need, the press service added. Strategic initiatives and a unified plan for achieving national goals that have been adopted by the government are aimed at restoring the incomes of Russians.
According to Rosstat, in the first half of 2021, 19.1 million people, or 13.1% of the population, lived below the poverty line in Russia. In the first quarter, the share of citizens with incomes below the subsistence level was 14.4%, or 21.1 million people. In the II quarter – 12.1%, or 17.7 million people, respectively. The value of the subsistence minimum in Russia in 2021 is 11,653 rubles.
The volume of real disposable income of Russians – funds that remain with them after making mandatory payments adjusted for inflation – grew by 1.7% in the first half of the year. At the same time, in the first quarter it fell by 3.7% on an annualized basis, and in the second quarter it grew by 6.8%.
Unemployment in Russia in the second quarter amounted to 4.9%, or 3.7 million people. Then it continued to decline and by August reached 4.4%, or 3.4 million people. This indicator has become the lowest in Russia since August 2019.The average salary in Russia at the end of the first half of the year was 54,595 rubles. In real terms, it increased by 3.4% compared to the same period in 2020.
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