Russian incomes fall sharply

RUSSIA / FSU POLITICS - In Brief 28 Apr 2020 by Alex Teddy
Russian incomes fell by 0.2% in Q1 of 2020. The fall started before the coronavirus quarantine. The decline is partly due to the collapse in the price of the hydrocarbons and the concomitant reduction in the value of the RUB. Incomes are likely to continue to decline in Q2. The small income gains of 2019 will be wiped out. The Higher School of Economics forecast a 5% drop in incomes and VEB says it will be an eye watering 17.5%.

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