Russians’ Expenses Fell Rapidly in 2020

In the first six months of 2020, Russians began to save money more often, Izvestia reports with reference to the study conducted by the FinExpertiza bank audit company. According to the analysts, the reduction in consumer spending has become a record. On average, they fell by 11.5 thousand rubles (maximum since 2006), and costs over the past 13 years have steadily increased from January to July. 

It is noted that spending on the average resident of Moscow decreased by 41,000 rubles. The most thrifty residents live in Yakutia (28,700 rubles), Sevastopol (26,000 rubles), Yamalo-Nenets Autonomous District (19,100 rubles), and Krasnodar Territory (15,900 rubles). Petersburg (15,900 rubles) closes the top 10 regions where less money has been spent over the last six months of the year.

It is specified that compared to last year, citizens have reduced their travel spending by 90 per cent, clothing, and shoes by 82 per cent, cafes, and restaurants by 72 per cent. The reason for the record drop in spending considered the coronavirus pandemic and the introduction of a self-isolation regime which has also increased the costs for food (by 32 per cent), medicines (by 25 per cent), and alcohol (22 per cent).

Ru-Main, 02.09.2020 

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