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Wed Feb 13, 2019, 02:04 AM

Russians Lower Their Standards

Russians Lower Their Standards

Year after year, Russians keep getting poorer. According to new data from Russia’s state statistics agency—an organization that is often accused of fudging data in the Kremlin’s favor—2018 marked the fifth straight year in which Russians’ inflation-adjusted disposable incomes fell. Since Russia annexed Crimea in early 2014, in other words, Russians have gotten steadily worse off.

There are several causes, not all of which are in Russia’s control. The country depends heavily on oil and gas exports, so when prices for those fall—as they did in 2014 and 2015—the country’s economy slows. But as oil prices climbed in 2016, Russia’s economy started growing again. Last year, oil prices were relatively high, hovering around $70 per barrel. Thanks largely to that hike, total exports increased 27 percent. That didn’t mean much for ordinary Russians: Oil firms might have done better, but average Russians did worse.

Western financial sanctions haven’t helped. By restricting foreign investment and raising financing costs, sanctions slow business growth. Even so, Russian firms have been doing better than Russian citizens. Industrial production, for example, increased by 2.9 percent in 2018—relatively solid growth. That meant little for individual incomes, though....

....To be sure, there is plenty of evidence that Russians are disgruntled. In late January, the Russian government’s own pollster found that only 33 percent of Russians say they trust Putin, down from 70 percent after he annexed Crimea. In several high-profile regional elections last year, the Kremlin’s preferred candidates lost, thanks to protest votes against Putin’s United Russia party and the country’s ruling elite more generally.


SOURCE- https://foreignpolicy.com/2019/02/11/russians-lower-their-standards/

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Reply Russians Lower Their Standards (Original post)
Banshee 3 Actual Feb 2019 OP
RCW2014 Feb 2019 #1
rampartb Feb 2019 #2
imwithfred Feb 2019 #3
Grumpy Pickle Feb 2019 #4
nolidad Feb 2019 #5

Response to Banshee 3 Actual (Original post)

Wed Feb 13, 2019, 02:06 AM

1. Foreign Policy.com

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Response to Banshee 3 Actual (Original post)

Wed Feb 13, 2019, 02:12 AM

2. are the russian oligarchs lowering their standards as well?

or only the russian people?

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Response to Banshee 3 Actual (Original post)

Wed Feb 13, 2019, 02:22 AM

3. You know, Russia and Ukraine certainly disprove the haters'

popular contention that overpopulation causes poverty.

Given how the populations of Russia and Ukraine have dropped so much the past thirty years, one thinks then that the people remaining would be soaring up to unparalleled prosperity, with the "fixed" number of resources split between fewer people.

Yeah, right.

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Response to Banshee 3 Actual (Original post)

Wed Feb 13, 2019, 03:27 AM

4. The average Russian has suffered hundreds of years of oppression

whether it be from the Czars and the Imperialists, Communist Lenin, Trotsky and Stalin.....all thru the Cold War....and currently under Putin and the quasi-communist oligarchy.

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Response to Banshee 3 Actual (Original post)

Wed Feb 13, 2019, 07:13 AM

5. It's Trump colluding with the Russians!!!

We need another investigation I tell ya'!!!!!!

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