More than half of Russians can't afford a vacation
More than half of Russians admitted, ahead of the start of the vacation season, that they do not have enough money for a vacation. This is according to a survey by X5’s “Paket” service, as reported by Russian media. Some respondents reported having no savings or insufficient savings to plan trips.
More than half of Russians were left without money for a vacation before the start of the vacation season. About a third (30%) admitted they haven’t started saving for a trip yet, while 28% said they never manage to save for a vacation. Additionally, 26% of respondents reported saving less than they expected, 12% exactly as much as they wanted, and 4% more than they planned.
Among those who prepare for their vacation in advance, 30% start saving 2–7 months before the trip, 27% more than 7 months in advance, and 12% 1–4 weeks before. More than a third of respondents (37%) actively save money before their vacation, while 16% slightly cut back on daily expenses. About half of the respondents (48%) pay more attention to special offers during this period. Additionally, 31% of Russians try to plan their purchases in advance and avoid spontaneous spending, while 28% compare prices across different stores.
As a reminder, Russia is seeing a trend toward staff reductions across various sectors, including IT, healthcare, logistics, manufacturing, retail, consulting, and other business services.
The Russian Ministry of Finance forecasts a sharp increase in regional budget deficits to $21 billion.
Despite a temporary increase in oil export revenues, Russia’s economy continues to accumulate serious imbalances due to the war and high military spending. The budget deficit is growing rapidly, inflation is accelerating, and reserves are gradually being depleted. Analysts point out that oil revenues are only temporarily masking deeper problems.
Russian authorities are planning massive layoffs of public sector employees amid a sharp rise in the government budget deficit. As of April 1, the number of employees recommended for dismissal reached 105,147. These figures are provided by Rostrud.
