The Central Bank proposed six measures to combat poverty – Kommersant

At a meeting in the State Duma, Chairman of the Central Bank Elvira Nabiullina proposed six measures to combat poverty in Russia. These include reducing inflation, protection against debt, combating fraud, measures to support citizens in difficult situations, financial products for people with low incomes and financial literacy programs. Performance Ms. Nabiullina was broadcast on the State Duma website.

What the head of the Central Bank proposed to combat poverty:

• Reduced inflation. “Inflation is a tax on the poor; they suffer most from rising prices, which eats up their already small income,” said Ms. Nabiullina.
• Strengthening protection against excessive debt. The Central Bank is ready to take “all necessary measures.”
• Combating fraud in the financial market. According to the Bank of Russia, people with low incomes are the most vulnerable.
• Measures to support citizens who find themselves in difficult life situations.
• Development of financial products for people with low incomes. Among them are social account and social contribution.
• Special financial literacy programs. They reduce people’s risks, help them navigate correctly, and use “the opportunities of the financial market to save their income and increase it.”

The poverty level in the Russian Federation at the end of 2023, according to Rosstat, has reached a historical minimum, dropping from 9.8% to 9.3% of the country’s population. Now 13.5 million out of 146 million Russians can be classified as poor.

About the reasons for reducing poverty – in the material “Kommersant” “Poverty has reached historic lows”.

Leonid Uvarchev