The government has acknowledged the crisis of consumption in Russia

Deputy Prime Minister Olga Golodets

The development of the Russian economy prevents sharp reduction of expenses of Russians for the purchase of consumer goods, in fact, the country is undergoing a “crisis of consumption”, said Deputy Prime Minister Olga Golodets. “Today it is impossible to develop further, now the whole industry is talking about one thing: no matter what we produced, we have no consumer. We have a reduction of consumption. This is the biggest problem,” said Golodets at the meeting of the Russian tripartite Commission on regulation socially-labour relations (quoted by TASS).

According to the Vice-Premier, Russia has radically changed the structure of consumption, starting in 2016, most of the money Russians spend just on food, while the demand for a range of goods of light industry decreased by 20% or even more. “This was not long ago. And it speaks about the crisis of consumption, which is today the most important factor that hinders development of the economy”, — said the Golodets.

Earlier on Friday, the company “Nielsen Russia” announced record fall in consumer confidence and the “exhaustion” of consumer abilities of the Russians. After spending on the basic needs and mandatory payments in 18% of the Russians left free money, they all of more you save on new clothes, electronics and vacations. In this case, the improvement does not believe almost 70% of respondents.

“Depletion — so one word can describe the state of the Russian consumer today,” — commented on the results of a study Director on working with global clients, “Nielsen Russia” Marina Lapenkova.

In early February, the Ministry of economic development reported that retail trade dropped in the year 2015 with the worst results in more than 40 years and in the near future the process of transition buyers “in the category of observers for the trading process will only continue. Experts warned the MAYOR that in terms of adoption by the population savings behavior model the main objective of business is survival.

“In 2016, at least in the first months, before the entrepreneurs is the main task — to keep the business and to survive within the margin that now forms the consumer”, — the report says the MAYOR. According to experts of Agency, the risk that the situation in the retail trade will develop under the negative dynamics will remain high until at least the middle of next year.

In turn, first Deputy head of the Central Bank Sergey Shvetsov in February 2016, urged Russians to remember that during a crisis you need to spend less and save more.

“If there is economic downturn, people should respond rationally, and not buy on several TVs and several washing machines. It must understand that tomorrow it could lose a job, so the tendency to make savings here should prevail over the propensity to consume,” said Shvetsov.

Another reason for the reduction in consumer demand Olga Golodets called today a low grade labour of the Russians.

“We have everyone in the country receives General secondary education, and received a General secondary education, he enters the market and gets 7.5 thousand rubles, and you talk about productivity. Where such work is paid at 7.5 thousand rubles? These people have 2 million people. We have the distortions that you need to really work without addressing these distortions we will not be able to move forward”, — said the Golodets.