People Savings

The newspaper "Vedomosti" published on Friday the results of the March poll on the financial activity of the Russian population, held by the All-Russia Centre for the Study of Public Opinion (VCIOM). It showed that in spite of the fact that bank deposits now yield a maximum annual interest of 12 per cent, one fifth of the Russian population prefer to deposit their money in banks, sixteen per cent to hide it as before "beneath their mattresses" at home, and more than sixty per cent of the population have no savings at all.

Experts explain the VCIOM figures by the low incomes of the Russian population. According to the Russian Statistical Board (Rosstat), the average per capita income of the Russian population equalled in February, for instance, to only 8,092 roubles.

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