NewsKremlin's propaganda avoids this problem. Russians are losing everything

Kremlin's propaganda avoids this problem. Russians are losing everything

Kremlin's propaganda avoids this problem. Russians are losing everything
Images source: © GETTY | Bloomberg
ed. LOS
6:37 PM EDT, October 24, 2023

According to a study by the recruitment company Headhunter, an increasing number of Russians are having trouble covering all necessary expenses with their basic salary. As the Reuters agency notes, the situation of Vladimir Putin's compatriots worsened after the start of the invasion of Ukraine.

Inflation in Russia, according to analysts, is expected to be around 7 percent by the end of the year. Meanwhile, the central bank's target is 4 percent. The divergence - judging by the situation in Poland - doesn't seem significant, but it should be noted that official readings may not necessarily provide a complete picture.

Nevertheless, we can be sure that all is not well. Not without reason, a few weeks ago, President Vladimir Putin publicly acknowledged the fight against rising prices as a priority. Although he presents the Russian economy as resilient to Western sanctions for the attack on Ukraine, the condition of the ruble contradicts this.

According to a survey conducted by the recruitment company Headhunter, carried out on 5,000 Russians, it turns out that more and more people are struggling to make ends meet. The percentage of society for which one salary is not enough for basic expenses is growing.

The salary of Russians is not enough for basic expenses

The poll results are quoted by Reuters. The agency writes that the number of Russians who claim that their salaries do not cover basic expenses, increased by roughly 20 percentage points in the span of two years. So, more or less since the attack on Ukraine.

Almost half, or 45 percent of the respondents in Putin's country answered that one salary is not enough for the most important needs. In 2021, 25 percent of Russians responded in this way, and in 2022 - 39 percent.

"Of the 45 percent of people who lack money for basic expenses, more than half reported they are short at least 20,000 rubles each month," writes Reuters. In terms of the Polish currency, that's about $234. Officially, the average monthly minimum wage in Russia in July was nearly 71,500 rubles, or about $417.

What's next? According to analysts quoted by Reuters, Vladimir Putin's regime may not achieve its revenue target for 2024 and, as a result, may be forced to raise taxes on business activities. All this is to find money for armaments and war in Ukraine.

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