Page 47 - RusRPTDec22

pensioners received large one-time payouts. Social supports represent about a fifth of the sum of Russian household’s income.
The on-year decline in household capital income in the third quarter was notable. Both dividend income and household interest income were apparently down. While bank deposits have increased somewhat from last year, deposit interest rates have fallen back since last spring and real interest rates are strongly negative.
Real incomes of individual entrepreneurs increased last year and even this year. So far, this year is completely opposite to the decreases seen in previous recessions. Furthermore, economic activity this year has fallen especially in trade branches which have accounted for over half of the sales income of small private businesses. It appears that small business owners, in anticipation of a prolonged recession and very weak prospects, may have decided to pull out income from their businesses while they can.
Other household income, which accounts for over 10% of total household income, increased sharply in the third quarter – a pattern quite distinct from previous recessions. Income in the “other sources” category, which is not itemised, includes statistical discrepancies in household incomes, spending, saving and borrowing.
47 RUSSIA Country Report December 2022 www.intellinews.com