Over 60% of Russians expect wealth deterioration in 2020, says research

TASS Russian News Agency | Jul 3, 2020 at 2:44 PM

MOSCOW, July 3. /TASS/. More than 60% of Russians expect deterioration of their family wealth in 2020, according to the results of a research conducted by the Russian Presidential Academy of National Economy and Public Administration (RANEPA) named ‘Post-pandemic economic state of population. Results of fifth wave of monitoring of social state and population behavior amid coronavirus spread (June 18-21)' (obtained by TASS).

"Only a small share of respondents (6%) still expect their family wealth to improve to some extent this year. One quarter of the fifth wave's respondents (25%) believe that they will not experience any financial changes, and the majority (63%) demonstrate pessimistic expectations regarding their future family wealth (36% chose the option of slight deterioration and 27% - major deterioration)," the research said.

Moreover, the results of the research suggest that the majority of respondents (69%) still estimate the threat of the pandemic for the country's economy and personal wealth as substantial, though concurrently the number of replies characterizing social and economic risks as moderate and even minor is gradually rising. Moreover, non-working respondents tend to largely estimate the threat for personal wealth as major unlike working respondents.

According to the research, more than half of respondents (52%) suggest that amid the current situation the financial support measures provided by the state to population are insufficient. That viewpoint is shared by the majority of recipients of welfare payments and allowances. Meanwhile, 25% of respondents assume that in the current situation the state assumes no efforts to provide financial support to population, the research noted.