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Russia
02.12.22 16:21
Society

Russian poverty rate ticks down to 10.5 pct

Thanks to targeted government support, the incomes of the poorest residents are increasing

Russia's poverty rate stood at 10.5 per cent at the end of the third quarter of 2022, President Vladimir Putin said on Wednesday, 30 November.

"The decline is indeed small but it is important that in the current difficult economic situation there is such a definite positive trend. It needs to be preserved," he said at a government meeting.

Thanks to targeted government support, the incomes of the least well-to-do 10 percent of the Russian population are increasing, Putin noted.

"Our priority task is to achieve real income growth, reduce poverty and inequality in our country as a whole," the President said.

Russia's current poverty line for an able-bodied adult is 15,172 rubles (about 248 dollars) per month, as reported by Xinhua News Agency, a partner of TV BRICS.

Photo: IStock
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