“Those employed in the public sector likely raised their assessments of their financial situation due to government support, payments and benefits,” says Vladimir Zvonovsky, Professor at Samara State University of Economics.

Those who are already relatively well-off have a better chance of improving their financial situation. In September 2023, among Russians whose average income over the last three months was no more than RUB 12,000/month, the index measuring their situation in the past year remained virtually unchanged. Yet among Russians who earned more than RUB 70,000/month, the index increased significantly, Zvonovsky says citing official data.

"In other words, well-off Russians are generally the only group where most people say that their well-being has improved over the past year.”