Real incomes of Russians continue to decline
The real incomes of Russians continue to decline, although the the country's economy has marked a recovery in 2016. In April the income decrease has reached the level of 2009.
Consumer spending, which was the main driver of GDP in the first quarter, fell a little in April. Behind this there is a reduction in both real wages and a sharp cut in the incomes of the population, according to the local economists.
The Russian statistics shows that in April 2017 the monetary income of the population declined by 7.6% compared to April 2016.
Real incomes for the population are down three years: in 2014 by 0.7%, in 2015 by 3.2% and in 2016 by 5.9%.
In addition, in 2017, the government predicts a real population growth rate of 1%.
Posted from my blog with SteemPress : http://marketsfinance.staging.wpengine.com/real-incomes-of-russians-continue-to-decline/
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That is pretty drastic. How does it compare with income in USA? It seems like everyone is being squeezed tighter in last decade. I am no economist but would it be they are raising the money they perceive to need for the new cold war?