Russians will lose 20% of their income in Q2 compared to the same period last year, according to economists from the Higher School of Economics’ Development Center.
Economists have analyzed state support measures and conducted surveys among representatives of businesses and the general public.
The research shows that Russians’ actual income in Q2 will be around 78.2% of their income in Q2 2019. The state support measures proved inefficient and only helped to recover 2.2%.
The representatives of companies that participated in the surveys said that 25% of their employees will lose their wages partially or in full. Small and medium-sized businesses have been hit really hard. According to Evotor, these companies’ turnover in April dropped by 54% year-on-year.