Those who expect improving financial well-being rely on their salaries, whereas pessimists are afraid of inflation.  

MOSCOW, March 23, 2011. Russian Public Opinion Research Center (VCIOM) presents the data describing what economic forecast Russians make; at the expense of what they expect improving/worsening of their financial situation; what strategies they apply trying to preserve their normal life and resist the inflation.

The forecast of the change in financial well-being after the crisis of 2009 has become more positive and reached the record of 2007.The share of those who expect financial situation to improve has grown from 13 to 19% over the two years.  Those who are optimistic are mostly Russians aged 18-24 (33%). The number of those who expect their financial well-being to get worsened has declined from 32 to 21% respectively. Pessimistic views are expressed by respondents aged above 45 (25-27%). The majority of Russians do not expect any changes in their well-being to happen this year (47%, in 2009 there were 38%). Elderly respondents forecast financial stability (53%). 

Those Russians who expect their financial well-being to get improved in 2011 rely basically on their main job salaries, however year-by-year this source is becoming less important (from 61% in 2008 to 54% this year).  The number of those who rely on the second job salaries (14% versus 25% in 2009), on pension or income from their entrepreneurial activities has decreased (12% for each). Rarer Russians expect financial improvement from their unofficial earnings (9% versus 14% in 2008), financial assistance from relatives and friends or other financial sources (7% for each), their income from selling products produced on personal subsidiary plots (4%) or from rental housing (3%). Those who rely on scholarships, or unemployment benefit (2% for each), deposit interests or income from selling real estate and property (1% for each) are in the minority.

Most of those who predict worsening in their economic situation, increasingly blame inflation (from 67% to 82% over three years). More respondents also complain about the increase of expenditures (53% versus 43% in 2008).   The loss of the main job less threatens Russians than it did two years ago (from 21 to 11%). Russians also cited the need for loan payments (8%), loss of second job (5%), loss of unofficial job (4%) or other reduction in revenues (8%), loss of social (3%) and unemployment benefits (2%). Least Russians consider that their financial situation worsened because their business closed down or because of the reduction of interests on deposits (1% fore each).

Whereas earlier Russians could switch to cheap products, today they would do it only partially. Over the recent decades the strategies of Russians facing shrinking revenues have been constantly changing. In 1999 Russians opted for cheap products (46%). Ten years later some of Russians were in favor of this strategy (33%), whereas the same share of respondents would do that only partially (29%) or went on buying the same products in smaller quantities (31%). Today Russians would abandon products they usually buy in favor of the cheap ones only partially (34%).

With rising prices and decreasing incomes more Russians tend to economize (54%). The number of those who use active strategies such as searching for second or unofficial job (17% for each), growing fruits and vegetables on subsidiary plots (14%) has considerably decreased. Those who rely on benefits (4%) or rental housing (2%) are in the minority. Eighteen percent of respondents do not do anything.

The initiative Russian opinion polls were conducted on 22-23 January, 2011. 1600 respondents were interviewed at 138 sampling points in 46 regions of Russia. The margin of error does not exceed 3.4%.

Note: Using materials from the site www.wciom.ru or wciom.com, as well as distributed by VCIOM, the reference to the source (or hyperlink for the electronic media) is obligatory!