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Personal income and the poverty rate in Russia in 2021

Author

Listed:
  • Grishina Elena

    (RANEPA)

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.

Suggested Citation

  • Grishina Elena, 2022. "Personal income and the poverty rate in Russia in 2021," Published Papers ppaper-2022-1210, Gaidar Institute for Economic Policy, revised 2022.
    • Handle: RePEc:gai:ppaper:ppaper-2022-1210
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2022-1210.pdf
    File Function: Revised Version, 2022
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    More about this item

    Keywords

    Russian economy; households; income; poverty;
    All these keywords.

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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