The Standard of Living: Incomes, Wages and Lending in Regions
By Alexandra Burdyak (Russian Presidential Academy of National Economy and Public Administration (RANEPA) – Institute for Social Analysis and Prediction) & Elena E. Grishina (Russian Presidential Academy of National Economy and Public Administration (RANEPA) – Institute of Social Analysis and Forecasting)
In January–October 2017, households’ real disposable cash income fell by 1.3% as compared to the relevant period of 2016. It is noteworthy that real accrued wages rose by 3.0%, while the real size of assigned pensions, by 3.9%. During the first three quarters of 2017, Rb 6.4 trillion worth of loans was granted to households; in nominal terms this value is equal to the level of 2013–2014. However, with the inflation rate taken into account a downturn in lending (except mortgages) amounted to about 32%, so lending could not make up for a decrease in the standard of living.
Source: SSRN
