TRANSCRIPT: [Putin at] State Council Presidium meeting on national consumer rights protection system

Kremlin and River

(Kremlin.ru – April 18, 2017) Vladimir Putin chaired a State Council Presidium meeting on the national consumer rights protection system. At a State Council Presidium meeting on national consumer rights protection system. Meeting participants discussed the effectiveness of the national consumer rights protection system and the state consumer rights protection strategy to 2030. President of Russia Vladimir Putin: Good afternoon, […]

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Russians Are Getting Used to Being Broke

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Olga Kuvshinova – February 6, 2017) Russia’s recovery from the current recession continues to slow, according to the Economic Development Ministry. The reason: demand has plummeted. If that is the case, it means the Russian economy’s decline is in full swing despite official statements that the recession has ended. The decline in retail turnover – […]

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Russian Consumer Confidence Falls to Historic Lows

File Photo of Older Russian Woman Shopping in Grocery Store

(Moscow Times – themoscowtimes.com – April 30, 2016) Consumer confidence in Russia fell to 63 points in the first quarter of this year on Nielsen’s Consumer Confidence Index, the lowest level since records began in 2005, the Kommersant newspaper reported Friday. In the same period last year, the index stood at 72 points, the newspaper reported. According to Nielsen, a […]

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Personal Debt in Russia Up 30% in 2015

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – February 9, 2016) The amount of personal debt in Russia rose by about 30 percent, last year according to deputy director of the National Bureau of Credit Histories Vladimir Shikin, the rusnovosti.ru news website reported Monday. “In 2015 we saw a rise in personal debt, both in rubles and as a percentage of the volume […]

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Back to the USSR: Lamenting the loss of the everyday

Kremlin and Saint Basil's File Photo

While the range of consumer goods available to ordinary Soviet citizens was notoriously narrow, some of those goods were – and still are – so dear to people that they couldn’t have imagined life in the Soviet Union without them. RBTH interviewed a number of people who lived through the era to find out what they miss the most. (Russia […]

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Debt repayment falters as ruble stays unsteady

File Photo of Cash Register with Drawer Open and Hands of Cashier

Amid continuously falling incomes, debt help groups thrive as Russians turn to different solutions to repay loans. (Russia Beyond the Headlines – rbth.ru – ANNA KUCHMA, RBTH – December 2, 2015) In the past year, arrears on loans have reached record levels. Borrowers are finding it more difficult to repay their loans due to the steep devaluation of the ruble […]

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RIA Novosti: One in six Russians overwhelmed by debts – poll

Cash, Calculator, Pen

(RIA Novosti – Moscow, November 6, 2015) The majority of Russians are unsatisfied with their financial situation, and nearly each one in six is overwhelmed by a large amount of debts, according to a survey conducted by the National Financial Research Agency. Some 17 per cent of citizens complain about an enormous amount of debts. The percentage of those having […]

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New bankruptcy law may bring Russians relief from debt collectors

Cash, Calculator, Pen

(Russia Beyond the Headlines – rbth.ru – OLEG YEGÓROV, SPECIAL TO RBTH – October 26, 2015) Debt collectors in Russia often exceed their authority and resort to bullying, intimidation and even physical violence in order to force individuals to pay. However, a new law on individual bankruptcy is designed to help borrowers avoid such unpleasant encounters, though critics fear it […]

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Russia’s Ailing Consumers Keep Door Open for Rate Cuts

Elvira Nabiullina file photo

(Bloomberg – bloomberg.com – Ott Ummelas, Anna Andrianova – October 18, 2015) There may be a silver lining for the Bank of Russia in another batch of grim consumer data. While Governor Elvira Nabiullina has set a course for monetary easing to match slowing inflation, policy makers last month paused their easing cycle for the first time in 2015. The […]

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Poll: Russians adjusting to crisis, buying less expensive goods, food

Diverse Paper Currency, Coins, Line Graph

(Interfax – October 15, 2015) Russians have had to adjust their consumer behavior to the ongoing economic crisis. Some 62 percent of them have switched to buying cheaper food and goods (against 58 percent in January), the Russian Public Opinion Study Center (VTsIOM) said. The number of people who have been buying fewer goods and spending less on their entertainment […]

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Sberbank CIB Ivanov consumer confidence tracker shows mood blackens in Russia

Diverse Paper Currency, Coins, Line Graph

(Business New Europe – bne.eu – Ben Aris in Moscow – October 8, 2015) With temperatures plunging more than 30C in a week, as an Indian summer gives rapidly away to snow, maybe it is no wonder the latest installment of Sberbank CIB’s Ivanov Consumer Confidence Index shows Russian are feeling increasingly glum about their lives. The thirteenth issue of […]

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Consumer-Rights Advocate Calls Putin ‘Paranoid’ After ‘Foreign-Agent’ Slur

Vladimir Putin file photo with VOA logo; screen shot from video still

(RFE/RL – rferl.org – Tom Balmforth – MOSCOW, June 24, 2015) A Russian consumer-protection group lambasted by President Vladimir Putin as a “foreign agent” after giving cautionary advice to Russians traveling to annexed Crimea has accused Putin of “paranoia” and called him “badly informed.” Mikhail Anshakov, chairman of the Moscow-based Society for the Protection of Consumer Rights (OZPP), said his […]

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Russians Burdened by Less Debt Compared With U.S.

File Photo of Stack of Credit Cards, adapted from image at fdic.gov

(Moscow Times – themoscowtimes.com – Delphine d’Amora – October 30,, 2014) Despite concerns of a consumer lending bubble in Russia, relatively few Russians have any debt at all compared with residents of the U.S. and Europe, according to a survey released Wednesday. Russia’s consumer lending market grew at the blistering rate of 40 percent in 2012 and again in 2013, […]

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Consumers Stay Away From Moscow’s Malls as Sanctions Deepen Russia’s Slump

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – September 9, 2014) Nearly 25 percent fewer people visited Moscow’s malls in the week leading up the start of the school year than in the same period of 2013, a survey said, indicating that Western sanctions and an economic slowdown are hitting Russian consumer demand. A report by consumer market research firm Watcom cited by […]

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Interfax: Consumer demand the Russian economy’s main driving force – Ulyukayev

Alexei Ulyukayev file photo

MOSCOW. Dec 25 (Interfax) – Consumer demand is the main driving force of a Russian economy that is slowing for internal reasons, Economic Development Minister Alexei Ulyukayev said in an interview with the Rossiya 24 TV channel. “The main problems are our domestic ones. Low investment activity now complements export limitations. The only part of this engine that is in […]

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Housing Still the ‘Dream’ and Frequently Out of Reach

(Moscow Times – themoscowtimes.com – December 16, 2013) Affordable housing remains a dream for most Russian families, whose average monthly income is not enough for a mortgage to buy even a half of a two-bedroom apartment, according to research conducted by Finexpertiza consulting firm. A survey by the Public Opinion Foundation, showed that a two-bedroom apartment is the “Russian dream,” […]

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Survey Underscores the Death of the New Russian

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Alexander Panin – December 16, 2013) The era of the brash New Russian has ended. Neither heavy gold chains nor massive Rolex watches enthrall the Russian consumer as they did at the dawn of capitalism in the 1990s, although quality is preferred and people are willing to pay for it, according to a survey released […]

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