Page 63 - RusRPTJan21

4.5.2​ Income dynamics
The recovery of the real incomes of Russians after the failure due to the pandemic crisis will drag on at least until the end of 2022​ say economists. Stagnation of real incomes can reduce the level of trust in the state and cause discontent in society. The Ministry of Economic Development's forecast is much more optimistic - a full recovery of real incomes as early as next year.
In 2021, the real disposable income of Russians will increase by 2% at best after a 5% decline at the end of 2020, writes RBC, citing a review by Alfa-Bank economist Natalia Orlova.
There are really no prerequisites for a quick recovery, in 2021 there is a risk of stagnation in real income, another authoritative expert on the issue told the publication, Director of the Center for Development Institute of the Higher School of Economics, Natalya Akindinova.
According to the forecast of the Development Center, the real disposable income of Russians in 2020 will decrease by 4.1%, next year they will grow by 2.2%, and in 2022 - by 1.9%.
Dmitry Belousov, head of the Macroeconomics Department of TsMAKP, predicts a decline by 3-3.5% this year and an increase of 1.5% in 2021. According to him, the failure of 2020 will be closed only by the end of 2022.
63 ​RUSSIA Country Report​ January 2021 ​ ​www.intellinews.com