The World Bank forecasts the reduction of poverty in Russia from 13.5% to 11.6% within the next three years, as said in the report of the World Bank “Russia’s Economy: from Recession to Recovery”, RNS reports.
“In the base case of the forecast of oil prices, the share of the poor population decreases to 13% in 2017 – from 13.5% in 2016 and continues to decrease in 2018-2019 up to 12.3 and 11.6% respectively”, according to the document.
The slowdown of the inflation rate, the renewal of the growth of income and consumption will influence the reduction of poverty. The reduction of poverty will happen despite the growth or drop in oil prices by 15%, according to the World Bank’s report.
According to the data of the Russian State Statistics Service, in 2016, 19.8 mln Russian citizens had revenues lower than the minimum living wage, thus exceeding the 2015 indicator by 300 ths persons.
