The problem of poverty in Russia under sanctions

One of the significant periods of recent years is the deterioration of the foreign policy situation against the backdrop of the events of 2014, which resulted in the introduction of anti-Russian economic sanctions that affected many of the country’s markets. All this only exacerbated the problem of poverty that existed before, as a result of which, by 2015, the number of people living below the poverty line in Russia increased by more than 3 million people. Despite the fact that the social policy pursued in recent years, including measures of financial support for the population, has yielded certain results and the situation has improved, the problem of poverty and income inequality among the population remains unresolved. The study assesses the change in the level of poverty in Russia in the context of the economic crisis of recent years, reveals the current trends and their socio-economic consequences. It has been established that in recent years there has been an increase in the differentiation of the size of the average wage to the subsistence minimum from 3.5 to 4.5 times. This indicates that the average level of wages is growing more dynamically than the basic minimum income. The poverty assessment showed that by 2021 the indicator managed to return to the pre-crisis level (2014), as a result of which today there are about 11% of the population below the poverty line in the country, which is equal to about 16 million people. Speaking about the shortage of cash income in the country, it should be noted that after a period of growth of the indicator to 1.3%, by 2021 it also returned to the pre-crisis level and amounted to 0.9%.