The Russians are poorer even more

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Rosstat recorded another collapse of incomes of Russians. The Russian financial market started to recover after the sales.
According to Rosstat, in may, the national average, the Russians earned 30438 rubles a month, which is 2653 rubles less than in April. Thus, for the first time in quite a long period of time, Rosstat has fixed decrease in incomes of Russians.
In real terms, adjusted for inflation, the decline was 9.3 percent. Thus, if to compare may income in the current year to last year, the growth made over the past 12 months, symbolic of 0.3%.
The election to fill the state money ran out and the situation with incomes of Russian state returned to normal. To add to all this future increase in price for all product groups after a sharp rise in price of gasoline, the imminent increase in VAT and we are willing to bet that next year we will see a decrease in performance.
On this background the dollar on the Moscow exchange holds around 63 rubles 75 kopecks, the Euro traded at 73 rubles 60 kopecks. The MICEX index rose to 2260 points, the quotes of Brent crude oil fell back below $ 74 per barrel. Bitcoins according to CoinMarketCap strengthened to $ 6,700.
Recovery in the Russian financial market continues. The index for several days is trading in positive territory. Gradually grows and the domestic currency, despite the decline in oil prices. Yesterday ended with steady growth of the government bond index RGBI. Market participants say that the emotions that swept investors last week come to naught. Now there is a stabilisation in the Russian financial market. However, if the current correction in the real recovery far sooner.
With regard to the situation on the Russian currency market, we mentioned that the summer will be quite heavy for “wood”. It is likely that by September we expect new highs in the USD/ruble.
Gleb Zadoya,
The head of the analytical Department of the company,