By the end of 2023, the number of Russians with income below the poverty line reached 13.5 million people, that is, 9.3% of the country’s total population. This is proven by data Rosstat.
This rate is lower than in 2022, when the poverty rate reached 9.8 percent.
In the first quarter of 2023, 19.6 million Russians (13.5%) were below the poverty line, 15.7 million (10.8%) in the second quarter and 17.3 million (11.9%) in the first half of the year. The number of poor people decreased to 14.8 million people (10.2%) in the third quarter, and to 16 million people (11.1%) in the January-September period.
The lowest poverty rate was recorded in the fourth quarter of 2023; 9.9 million people, or 6.8% of the total population.
According to Rosstat, the poverty line reached 14,754 rubles per month in the last quarter of 2023. On average for 2023, this figure was 14,339 rubles, compared to 13,545 rubles in the previous year.
Economist at the beginning of March appreciated Rosstat data on income growth of Russians.
Putin before instructed The Council of Ministers should focus on increasing the real incomes of Russians.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.