Xinhua, Moscow :
As the Russian economy suffers from Western sanctions coupled with a sharp drop of oil prices and the depreciation of the ruble, ordinary Russians are looking for ways to make the best of their rapidly shrinking savings. The least advantaged simply struggle to make ends meet.
The Public Opinion Foundation, a Russian pollster, on Friday released data showing that 80 percent of Russians believe there is an ongoing economic crisis in the country, which is primarily reflected by soaring prices and high inflation.
On the surface, the situation seems to be improving as the ruble, which hit its record low of 69.6 against the U.S. dollar last month, has stopped its free fall. Some experts have even started talking about recovery of the ruble in light of growing oil prices, seemingly encouraging mitigation of the Ukraine crisis and the central bank’s decisive measures.
Nikolai Solabuto, managing director of Finam Investment Agency, expected that the ruble’s stabilization will persist in the near future.
“When outside factors subside, efforts of the government and the Central Bank to sweep out currency speculators will help speed up the ruble’s appreciation,” he told Xinhua.
Olga Sviridova is one of those who have benefited from the currency’s ups and downs. The real estate agent sold her apartment in Moscow when the ruble was still relatively strong and purchased two newly-built flats for the same money after the nosedive of the currency.
“So I didn’t feel that sanctions have spoiled my life,” she said.
Alexei Borisov from Oryol said he did not feel any changes in his life, noting that import-substitution efforts of the government mean more jobs will be created in Russia.
“I can’t say prices have grown unbearably high. Several days ago, I had my haircut for 200 rubles instead of 150 a month earlier, but that is a tiny difference,” he said.
However, Olga and Alexei belong to the lucky few. The majority of their countrymen say they have hardly noticed any sign of economic recovery, as anti-sanction measures have led to grocery shortages while retail prices keep growing.
As the Russian economy suffers from Western sanctions coupled with a sharp drop of oil prices and the depreciation of the ruble, ordinary Russians are looking for ways to make the best of their rapidly shrinking savings. The least advantaged simply struggle to make ends meet.
The Public Opinion Foundation, a Russian pollster, on Friday released data showing that 80 percent of Russians believe there is an ongoing economic crisis in the country, which is primarily reflected by soaring prices and high inflation.
On the surface, the situation seems to be improving as the ruble, which hit its record low of 69.6 against the U.S. dollar last month, has stopped its free fall. Some experts have even started talking about recovery of the ruble in light of growing oil prices, seemingly encouraging mitigation of the Ukraine crisis and the central bank’s decisive measures.
Nikolai Solabuto, managing director of Finam Investment Agency, expected that the ruble’s stabilization will persist in the near future.
“When outside factors subside, efforts of the government and the Central Bank to sweep out currency speculators will help speed up the ruble’s appreciation,” he told Xinhua.
Olga Sviridova is one of those who have benefited from the currency’s ups and downs. The real estate agent sold her apartment in Moscow when the ruble was still relatively strong and purchased two newly-built flats for the same money after the nosedive of the currency.
“So I didn’t feel that sanctions have spoiled my life,” she said.
Alexei Borisov from Oryol said he did not feel any changes in his life, noting that import-substitution efforts of the government mean more jobs will be created in Russia.
“I can’t say prices have grown unbearably high. Several days ago, I had my haircut for 200 rubles instead of 150 a month earlier, but that is a tiny difference,” he said.
However, Olga and Alexei belong to the lucky few. The majority of their countrymen say they have hardly noticed any sign of economic recovery, as anti-sanction measures have led to grocery shortages while retail prices keep growing.
