50% drop in Russian income could spark riots, economist estimates

Oleksandr Savchenko. Photo: wikipedia.org

Now in Russia the ruble has collapsed by about 65%. For some price they will catch up with the course. That is, inflation in 2024 will be 70%. This year inflation in Russia will be 22%. This opinion was expressed today, on August 9, on the air of the FREEDOM TV channel by Professor, Rector of the International Institute of Business, banker and economist Alexander Savchenko.

He noted that in the civilized countries of the world, people come out to protest when the fall in people’s incomes due to the fault of the authorities is 20%.

“If you take Russia, they don’t feel this threshold at all. Last year, the drop in income was, according to my calculations, by 7%. Didn’t affect people in any way. In normal countries of Western civilization, including Ukraine, if the fall in income due to the fault of the government is somewhere at the level of 20%, the people demand to remove the government. Unfortunately, I state that Russia will pass this threshold painlessly. And when the drop in income reaches 50%, there will be revolutions, even civil wars. I believe that the Russians will replace this fall by 50% and take to the streets, but it is still far away, ”Savchenko said.

He added that when there is a shortage of vodka, food and drugs in Russia, then the current government in the country will cease to operate.