Russian incomes up

RUSSIA / FSU POLITICS - In Brief 31 Jan 2020 by Alex Teddy
The Russian Statistics Agency announced on January 28 that disposable income increased by 0.8% in real terms in 2019. The majority of the increase came in the third quarter. This was a pleasant surprise after incomes dipped 1.8% in Q1. The overall increase is modest but still very welcome after incomes fell 2014 to 2017 inclusive and stagnated in 2018. The rosy statistic for 2019 should be treated with caution. The bad news for the previous years might well have been understated. Inflation was down to 3% in 2019 which helped. Interest rates on loans were down. Despite some good economic news on other fronts this seldom translates into a serious boost for ordinary people.

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