According to the findings of Wave 6 of the All-Russian Survey of Consumer Finance conducted by the Bank of Russia last year, a majority of Russian households, specifically 65%, experienced an increase in real incomes over the period from 2022 to 2024. This growth in incomes coincided with a rise in the number of people feeling confident about their financial stability.
The survey also observed an increase in expenses and the number of households with savings. Among the respondents, those in the middle-income bracket reported the most significant increase in financial assets.
The level of household debt remained relatively unchanged. Nevertheless, the average debt increased in 2024 compared to 2022, attributed partly to a higher proportion of respondents with substantial loans. Households that saw a marked improvement in incomes in 2024 were more inclined to take out mortgages.
For further information, readers are advised to consult the survey materials.
