Citizens met coronavirus without saving: experts talk about the uniqueness of Russia

the SEC “Prospect” on the order of several banks and insurance firms find out what savings the population met the crisis caused by the pandemic. The results of the survey is very negative. The Russians still did not manage to restore their cash reserves after the collapse of 2014 as they had to face new economic challenges. According to SEC, almost two thirds of Russians — 63,6% have no savings at all, most of the remaining 36.4% of respondents have means for up to six months, in case of sudden loss of work.

While authorities say the population that the Federal reserves will last for a long time, from ordinary citizens to financial safety cushion non-existent. In 2014, real earnings fell 5 consecutive years, and as soon as there have been positive developments, there was another crisis caused by the current situation, says the Director of the Academy of management Finance and investment Mr. Dadashov. “The previous government was busy not with the growth of incomes and budget deficit, which is only the increase in VAT, which caused a noticeable impact on the population, — he recalls. Now in the midst of the crisis, Russia introduced new fees — a tax on deposits of one million rubles, which is directed against a very small middle class.”

According to experts, Russia is the only country, which is struggling with economic difficulties by increasing the fiscal burden. “Without changing the approach to social policy, the population will not be able to save,” — says Dadashov.

“Where will the savings, people with the growth of prices in 2014, more than 2.5 times at all the basic goods and products, and at a much slower wage growth?”, — asks the chief analyst of Teletrade Peter Pushkarev. The analyst believes that while the population to save “gray” income, for example, for provision of various services: help neighbors repair or work on the Internet. However, this depserate a can temporarily losing while sitting at home. In this case, we can only hope that the measures “forced itselfizolatii” will not last longer than a month, and employers will return employees not only for freelance work.

photo: Gennady Cherkasov

“the Work of the whole service sector, such as restaurants, cafes, hotels who will be able to survive, it will still be non-profit — emphasizes Pushkarev. Even after removing authorities restrictions people will not be EN masse to go there at least 2-3 months. The population will have time to form a habit to behave more cautiously, which is good in terms of maintaining health, but is detrimental to business.”

In the opinion of the independent expert on personal investment Alena’s Lapitskaya the results of the study center “Perspective” even brighter than it really is. “One of the most important reasons for the lack of savings of the citizens — the problem of the annual declining revenues. A huge part of our population has one or two of the loan and is in debt. Salaries do not allow to cover all expenses,” she notes.

Analysts agree that the crisis is caused by a coronavirus pandemic, further exacerbate the situation in the Finance of households. Some employers already send their employees to so-called “vacation” without wages or other compensation. Others simply reduce their staff: for companies that do not apply for employee in the state, it makes no sense to keep the “burden” in a time of stagnation. Mass unemployment risks provoking a sharp increase in loans. And then need a major social measures to which the government is unlikely.

is there Enough money until your next payday

Not enough to 34.6%

Missing a 33.3%

Not enough small amounts of 30.9%

it’s Difficult to answer 1,2%

Source: a survey of the SEC “Prospect”

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