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The Savings Rate of the Population in Russia has Dropped Significantly
12.11.2018 08:49
The Savings Rate of the Population in Russia has Dropped Significantly

The savings rate of the population (the ratio of personal savings to income) has dropped significantly below the levels of 2013-2014 in August-September. This is due to the fact that households paid for purchases with loans and savings.

      As the Central Bank notes, in the context of lending expansion the population gradually began to shift from a savings behavior model to an increase in consumption. “At the same time, the dynamics of real disposable incomes of the population continues to hold back the expansion of consumer demand”, as the commentary says. It is noted that in September real wages increased by 7.2 percent in annual terms. At the same time, real disposable income fell by 1.5 percent during this month.

      In general, the growth rate of expenditures on final consumption of households is estimated at 2-2.5 percent in the third quarter of the year.

      Find more about the volumes of consumer loans in Russia.


Author: Anna Dorozhkina

Tags: society     

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