This year, Russians’ real incomes may increase by 3 percent, while inflation will fall to 6.5 percent. The newspaper Izvestia writes this with reference to the Expert RA rating agency.
The forecast also shows that inflation could fall to 6.5% in 2023, which, together with an increase in the minimum wage, will result in a 3% increase in real money incomes of the population compared to 2022.
In addition, according to the analysis of experts, unemployment will not exceed 4 percent.
During the meeting of Russian President Vladimir Putin with the government, Deputy Prime Minister Tatyana Golikova said that the salaries of Russians have increased by 22 percent in the last five years, while the average income per capita has increased by 12.5%. Rosstat reported: In the third quarter of 2022, 15.3 million people were below the poverty line, which is 10.5% of all Russian Federation citizens.
Putin named increasing real wages among the country’s main goals this year. He instructed the government and the Central Bank of Russia (CBR) to reduce the poverty level in the country.
Previously, more than half of Russians – 54% – never didn’t draw tax cut, although 65% of citizens in general are aware of this possibility. Respondents listed their reasons for refusing the tax deduction. These include the complexity of paperwork, a long waiting time to receive money, informal sources of income, and the lack of the necessary package of documents to obtain a deduction.