Russia's economic recession, 3000000 people into poverty line

Russia's economy is in recession, the first three months of this year, about 3000000 Russians will fall into poverty, the Russian statistical agency said on Thursday.

Hugo network learned that data show that the number of people living below the poverty line from 19800000 in the first quarter of 2014 rose to 22900000 this year, an increase of 3100000. Living in the first quarter of the total population of less than the total population of 15.9%, an increase of 2.1% over the same period last year.

Earlier this month, the Russian government set the minimum standard of living standards, that is, 9662 per month ($174). Minimum living standards in Russia is an important indicator of poverty level. The Russian Federal Statistics Office said the number was up 17.3% in the last quarter.

The cost of imported products and components has also increased with the rapid inflation of the currency, leading to a surge in the cost of living in Russia this year. Inflation in the first quarter rose to 16.2%, although the nominal income of the Russian people grew by 11%.

Russia's economy will shrink by about 3% this year, due to the collapse of oil prices and the West because of the crisis in Ukraine. The government has estimated that the economic downturn may have plunged nearly 2000000 people into poverty this year.

Devaluation of the ruble led to an increase in the cost of Russian imports of products and parts, the development of the country's retail industry against larger, Russia in the first quarter of 2015 retail sales than last year period fell 6.7%, April retail sales than last year period declined by 9.8%.

The personage inside course of study says high inflation rate will make the Russian people to tighten their belts and live and reduce some unnecessary expenses.

Russian online consumers tend to spend more when buying gifts. Price is therefore a key factor in purchasing decision making. Whether the product is well-known brands, new products or stalls are not so important.

www.yuchaiie.com