Accounts Chamber: Rise in Poverty Jeopardizes Russia’s National Goal

The poverty level in the Q2 of 2020 moved up 1 percentage point higher than in the Q1 and amounted to 13.5%, which therefore risks not achieving the national goal of cutting poverty in half by 2030, according to the economic monitoring of the Russian Accounts Chamber, TASS informed.

“The poverty rate increased in the second quarter of 2020 to 13.5% from 12.5% in the first quarter of 2020. This created the risk that the national goal of reducing poverty by half by 2030 may not be achieved,” the report said.

The document said that in this regard, the main task should be not a return to the pre-crisis indicators of the poverty level, but entering the trajectory of a confident decline.

The Accounts Chamber noted that if favorable trends continue in the economy, the share of the poor population at the end of the year is likely to remain within 13-13.5%.