MOSCOW, 23 December 2022. Russian Public Opinion Research Center (VCIOM) presents the findings of a survey on the economic situation in Russia.

General assessments

Public satisfaction with economic and social policies is essential to social stability and a sign of how the authorities are coping with challenges and respond to public demands.  Public assessments of the economic policies show that over the recent year the index has been positive. The index[1]  hit its high in August (48 points) and its low in January (5 points). Neither February nor March were pivotal in assessments. In November the index made up 36 points: 37% of respondents marked that they were generally satisfied with the economic policies carried out by the authorities; the percentage of the dissatisfied was 29%; a further 28% said they were partially satisfied, partially not.

Over the recent year positive perceptions has been prevailing with regard to satisfaction with social policies: the percentage of Russians who are satisfied with social policies has been at 31-44%; the percentage of those who are dissatisfied, at 24-35%; the index[2] varied within 24 and 52 points, with the highest record in August. No substantial fluctuations were witnessed during the year, except for February that saw the lowest record, followed by further improvements in March. It means that respondents are more satisfied with social policies than economic policies, but both indicators look rather stable against external challenges.

Price increase

This year all the areas of life have undergone through transformations. Economy is no exception. Despite pessimistic outlook, the Russian economy managed to keep balance and even prospered in some areas. This year the monitoring studies point to normalization in economic moods and expectations after a March decrease by summer; the adaptation period took about three months.

The number of respondents who think that inflation is moderate has increased over the year – from the lowest 6% in January and February to the highest 21% and 19% in September and December. By July, “very high” and “low” responses were almost equal (37%), then “moderate inflation” prevailed. Simultaneously, the percentage of those who consider that the inflation is very high decreased: 65% in January vs 30% in October and November.

Economic uncertainty, withdrawal of a number of companies from Russia and reorientation of production resulted in a temporary shortage of goods that hit its high in March when 50% of Russians faced deficit. In April the percentage dropped to 37% and kept decreasing reaching 17% in October; in December 19% of Russians experienced shortage of goods (three-fold lower compared to March).

Labor market

Economic hardships often go along with vast unemployment. The analysis shows that March was not a turning point in the unemployment rate increase, moreover, March saw its lowest value: 16% of Russians said that there was someone in their close circle of family and friends who had lost their job over the preceding month; this percentage did not exceed 19% in November and December. During that period the share of Russians with no one in their close circle who had lost their jobs reached 72%. 

VCIOM-Sputnik Russian nationwide telephone surveys were conducted January through November 2022. A total of 1,600 Russians aged 18 and over took part in the survey. Survey method: telephone interviews, stratified random sample based on a complete list of mobile phone numbers in use in Russia. The data were weighted according to social and demographic characteristics. The margin of error at a 95% confidence level does not exceed 2.5%. In addition to sampling error, minor changes to the wording of questions and different circumstances arising during the fieldwork can introduce bias into the survey.

[1] See: https://wciom.ru/ratings/ocenka-vlastei.

[2] See: https://wciom.ru/ratings/ocenka-vlastei.