Russian Real Incomes Fall to the Lowest in a Decade

(Bloomberg) -- Russians’ real disposable incomes have slumped to the lowest since 2009, according to calculations by the Bank of Finland Institute for Emerging Economies, as the coronavirus crisis added pressure to an already stagnating economy. While overall output didn’t fall as much in Russia last year as in many other countries, living standards took more of a hit, contributing to a slump in President Vladimir Putin’s approval ratings. A long-promised turnaround in incomes so far hasn’t materialized.

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