Halving Poverty in Russia by 2024 : What Will It Take?
We identify the conditions in terms of economic growth and public transfers required to “…reduce poverty in the Russian Federation by one half by 2024” as stated in President Putin’s Decree of May 17th, 2018. The current poverty rate is 13.2 percen...
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| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/367311545159150385/Halving-Poverty-in-Russia-by-2024-What-Will-It-Take http://hdl.handle.net/10986/31041 |
| Summary: | We identify the conditions in terms of
economic growth and public transfers required to “…reduce
poverty in the Russian Federation by one half by 2024” as
stated in President Putin’s Decree of May 17th, 2018. The
current poverty rate is 13.2 percent, and halving it would
mean reducing the current rate to 6.6 percent by 2024. We
estimate that average annual growth of 1.5 percent would
bring down the poverty rate from 13.2 percent to only 10.7
percent by 2024. And even if Russia were to be able to catch
up with the rest of the world, and grow at 3.2 percent
annually, the poverty rate would fall to 8.1 percent – still
below the stated goal of 6.6 percent. Consequently, to reach
the Presidential target of 6.6 percent, we estimate that the
annual required growth rate would need to surge to 4.4 percent. |
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