Russians’ financial wellbeing not yet at pre-crisis level

The Russian Public Opinion Research Centre (WCIOM), in its latest survey carried out in May 2017 on the material wellbeing of residents of the Russian Federation, reports that the indicator that peaked in 2014 and then sharply declined after the rouble’s depreciation still has not returned to that level. According to the survey, 29% of Russians reported that their incomes are enough only for food and buying clothes is already difficult for them. In addition, 10% of the respondents said they barely make ends meet. In May 2014, those figures were 25% and 8%, respectively.

The most significant group of Russians (41%) do not have any problems buying food and clothing, but report they still cannot afford anything more, compared to 56% in May 2014. Furthermore, only 14% of the respondents said they have enough funds to purchase durable goods (refrigerator, TV, furniture), compared to 23% three years ago.

Interestingly, 3% of Russia’s residents reported they could purchase a car, apartment, or "virtually everything", compared to 2% in 2014.

Sociologists have noted that Russians gave similar assessments of their economic welfare after the previous financial crisis of 2008.

The WCIOM survey included 1,600 Russia residents from 130 localities in the country’s 46 provinces and was conducted between 25 and 29 May 2017.