Russians expect economic deterioration

Baku. 20 February. REPORT.AZ/ Despite industrial growth, increase of salaries and ruble’s recovery, Russian people now expect more economic deterioration. 

Report informs referring to Forexpf.ru, says the January survey of Russia’s famous agency Levada-Centre. According to survey, 78% of Russians believe that country moves towards economic crisis.

Notably, the same indicator in company’s survey in September 2016 was 74%. This negative mood is supported by macroeconomic indicators. Thus, consumption volume indicators, which embody more than 50% of country’s GDP, have decreased.

Notably, January retail figures to be announced on February 20 are also expected to drop. If expectations are approved, this will feature consecutive downturn during last 25 months. Notably, retail and real income of population dropped by 5% in Russia, despite 0.2% decline of overall economy in 2016.

According to Bank of America’s expert Vladimir Osakovski, decline in retail is stipulated by decrease of real value of pensions and social transfers.