Personal Income in Russia Drops by 5.7% in Real Terms

Relying on the Russian Statistical Bureau’s data, Russian daily Gazeta.ru reports that personal income in Russia dropped by 5.7% in the year to May 2016. Average monthly salary in May was 36 570 rubles (USD 570), or 6.2% higher than a year ago.

Moscow Mayor Sergey Sobyanin recently stated that real income in Moscow discontinued its downward trend. At the same time, former Finance Minister Alexei Kudrin noted that the drop of personal income in Russia is more serious than in the nineties.

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