Inequality study: 3% of rich Russians own almost everything in country

Inequality study: 3% of rich Russians own almost everything in country

Such a study is published for the first time.

Experts of the Higher School of Economics and the Institute for Research and Expertise of Vnesheconombank analyzed the level of inequality in Russia for the first time. According to the data of 2018, it turned out that 89% of all financial assets, 92% of all deposits and 89% of all cash savings belong to 3% of the country's most affluent population, Kommersant reports.

Such a study is published for the first time. Analysts conducted the assessment of the financial assets in the upper-income group based on survey data and banking statistics, comparing consumer finance research and macroeconomic statistics. Rosstat also performs a similar analysis based on tax statistics, which do not reflect reality and demonstrates very different data.

According to the Federal State Statistics Service, the differentiation of the population by financial assets has practically not changed over the past five years; the level of such stratification was predictably much higher. “The volume of financial assets of the population is almost completely determined by the richest group of the population,” economists conclude.

So, traditional research showed that in 2013, 20% of the most wealthy citizens accounted for 42-45% of all financial assets. The poorest 20% in 2018 owned 5-6%. Taking into account 3% of the most affluent citizens, the indicator of the concentration of financial assets and savings in the hands of the rich doubled.

At the same time, analysts note that there is a tendency to a decrease in the incomes of the most wealthy Russians, while the real revenues of the most impoverished population have slightly increased in five years.

Tags: Oligarchs
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