The real incomes of Russians by the end of the current year will grow by about 2.6 percent amid economic recovery, a shortage of personnel in the market and one-time social payments, analysts predicted for RIA News…
Denis Popov, chief analyst at Promsvyazbank, said that the contribution to the growth of Russians’ incomes provides an increase in wages against the backdrop of a labor shortage, in particular, due to limited external migration.
Support in the third quarter of 2021 was provided by social payments to pensioners, military personnel and parents of schoolchildren. Their contribution to the growth rate was about four percentage points, noted Artem Zaigrin, chief economist at Sova Capital.
At the same time, the main obstacle to real income growth is increased inflation and the completion of the rapid recovery growth of the economy after the crisis amid COVID-19, said Mikhail Vasilyev, chief analyst at Sovcombank.
Dmitry Kulikov, director of the group of sovereign ratings and macroeconomic analysis at ACRA, concluded that in 2021, real disposable income may grow by 2.5-3 percent. “From the end of 2021 and over the foreseeable future, the growth rate of real disposable income of the population in Russia will be approximately comparable to the rate of economic growth,” he said.
Earlier it was reported that in Russia it was proposed to increase the amount of income of individuals that is not subject to taxation from 4 to 10 thousand rubles. The corresponding bill will be submitted to the State Duma by the leadership of the Committee on Labor, Social Policy and Veterans’ Affairs.
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