Personal income and the poverty rate in Russia in 2021

Elena Grishina

Published Papers from Gaidar Institute for Economic Policy

Abstract: In 2021, the total index of personal money income in real terms gained 3.4% in 2020, and that of wages and salaries of employees, 3.5%. Due in the main to the low base effect, real income from entrepreneurial activity increased significantly (+17.3%), as did the real money income from all the other sources (+9.6%), including, among other things, the incomes resulting from tax avoidance through illegal cash-out. Property income shrank in real terms by 7.3%. At the same time, social benefits in real terms did not change on the previous year, amounting to 112.1% relative to the 2019 level due to the significant lump-sum cash benefits paid in August - September 2021 to families with children aged 6 to 18 years, pensioners, and law enforcement officers, in a total amount of more than Rb600 bn.

Keywords: Russian economy; households; income; poverty (search for similar items in EconPapers)
JEL-codes: I30 I31 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2022, Revised 2022
New Economics Papers: this item is included in nep-cis
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