Wednesday, June 20, 2018

Study: One in four Russians report decline in financial situation

According to a new study from the Levada Center, 27 percent of Russians said their financial situation has worsened in the past year, marking the highest level in 10 years.

Eleven percent reported an improvement in their financial situation, but a majority said their financial situation remained the same, Ural Business Consulting reports.

When asked about their outlook for the next year, 11 percent of Russians indicated that they expect their lives to improve over the next year. Twenty percent expect their incomes to shrink next year, and 57 percent do not expect a change. Of those polled, 12 percent were uncertain as to what changes the new year will bring their finances.

The share of respondents who expect no change is at its highest since 2003. The percentage of those who expect their lives to get worse is also considerably higher, second only to results from the study following the 2008 financial crisis, according to Ural Business Consulting.