Private wealth of the Russians was estimated at 90% of GDP, and a quarter abroad

the Aggregate amount of the private financial wealth of the Russians at the end of last year reached $1.6 trillion, or 99 trillion rubles at the exchange rate at the end of the year.

This is 90% of Russia’s GDP for last year (110 trillion), according to RBC with reference to the estimates of the international consulting company Boston Consulting Group.

Under aggregate private wealth, BCG understands the financial assets of the adult population — cash and deposits (including currency), bonds, stocks and investment funds, pensions and life insurance.

Despite the fact that Russia for the last 12 years is experiencing the third recession, the amount of personal financial States, the Russians increased since the end of 1999, 16 times — from $0.1 trillion to $1.6 trillion, experts BCG.

In the period from 2014 growth of private wealth has slowed, but still it increased from $0.9 trillion, or 11.7% per year on average.

thus, assuming in the BCG, about a quarter of the financial wealth of the Russians — about $440 billion — is stored abroad.

we also Recall that in late January of this year, the former head of Ministry of economic development (MED) of the Russian Federation Maxim Oreshkin acknowledged at the world economic forum in Davos that Russia remains “unacceptably high levels of inequality”, though it gradually decreases.

“Despite the fact that we continue to have unacceptably high levels of inequality, starting in 2012, the Gini coefficient (which measures inequality — ed.) in Russia is gradually decreasing”, — stated the former Minister.

In his opinion, “fix the picture” helped adopted in 2012, decisions on salaries in education and health.

According to the revised in December last year, according to Rosstat, in 2018, the Gini index was 41.3%, it rose for the first time since 2012. In 2012 to 2017, this figure is slightly decreased from 42 to 41.1%.

To measure inequality can be applied and the coefficients of the gap IUthe incomes of the rich and the poor. So, if in 2012 the income of the richest 10% of Russians exceeded the income of the poorest 10% in 16.4 times, while in 2017 at 15.4 times. In 2018, however, the gap increased to 15.6 times.

In mid-March, the Chairman of the accounts chamber of the Russian Federation Alexey Kudrin admitted that this year Russia can face a rise in poverty. “We face challenges (due to the fall in oil prices and the devaluation of the ruble — ed.) at least newmanhere poverty. Unfortunately, maybe even increase,” warned Kudrin.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 godes, stating in particular that the cost of the plan will be about 5 trillion rubles.

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