Kudrin: Poverty level in Russia is high

Alexei Kudrin, former Finance Minister and current Accounting Chamber Chairman, finds poverty level in the country high. He says, there are almost 20 million poor people in the country (more than 13% of the overall population), Russian News Agency reports.

Vladimir Fedorenko | RIAN

Poor people have income below poverty level which is now RUR 9,489 ($146) a month. The ex-Minister of Finance noted though that Russians’ real income has started growing – for the first time in five years.

“I hope this year we will nevertheless see real income’s growth”, he said addressing State Duma (lower house of parliament) session which approved a higher retirement age.

Kudrin pointed out at a higher income of pensioners. According to the official data, their real income rose by 2.2% over the first eight months of the year. The Economic Development Ministry though believes it will increase by a further percentage point shortly.

According to a presidential executive order, poverty level in the country should be reduced by the government by half by 2024.

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