Jun 26, 2019
RUSSIALINK: "Russia's Middle Class Is Shrinking - Bank Report" - Moscow Times
RUSSIALINK: “Russia’s Middle Class Is Shrinking – Bank Report” – Moscow Times
(Moscow Times – themoscowtimes.com – June 25, 2019)
Russia’s middle class has fallen by nearly one-fifth since the start of the country’s economic crisis in 2014, an analysis by the Moscow-based Alfa Bank has said.
Low oil prices and Western sanctions have reduced Russians’ real incomes for five years in a row. Economists forecast that the population’s purchasing power will keep falling in 2019…
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