Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
The Ministry of Economic Development has denied media reports of a sharp drop in income
7 July 2020 12:32

In April, the average nominal accrued salary was 49.3 thousand rubles. The Federal State Statistics Service data on personal income show that in Q1 2020, nominal income of the population has grown by 3.3%. From January to March 2020, wages grew in both nominal and real terms (growth in March 2020 as of March 2019 was 8.6%, as of February 2020- 7.7%). In April, at the beginning of restrictive measures related to the spread of a new coronavirus infection, real wages, i.e. accrued amounts adjusted for inflation, fell by 2% as of April 2019.

According to the Federal Tax Service and the Central Bank, one of the main indicators of household income is consumer demand, which has been growing since May. Thus, in the second half of June, consumer demand has exceeded the level of March - 114.4 billion rubles in the period from June 16-30 against 108 billion rubles. The Central Bank also records that the fall in household income slowed down by the beginning of May – the Central Bank's data on purchases by Bank cards showed a return to the usual level of consumption.

In the face of the worsening situation due to the spread of a new coronavirus infection, the Government's social policy was aimed primarily at preserving the citizens' income – both working and temporarily unemployed, families with children. Special payments for children were introduced, unemployment benefits were significantly increased, and employment support programs were launched. In addition, benefits for children from 3 to 7 years were granted a month earlier-from June 1.

The Federal State Statistics Service will present information about the population's income in Q2 2020 in its report on July 17.

Дата публикации: July 7, 2020
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