Tuesday, April 12, 2011

Two Russias

The richest slice of Russian society has doubled its wealth in the past 20 years, while almost two-thirds of the population is no better off and the poor are barely half as wealthy as they were when the Soviet Union fell, according to researchers. The wealthiest fifth of the population received a pay cheque equivalent to 198% of its value in 1991, while the poorest fifth made only 55% in real terms. In total, 60% of the population has the same real income or less than the average 20 years ago.

Income inequality between the mid-1980s and the mid-2000s has increased eight times more than in Hungary, and five times more than in the Czech Republic.

The huge gap between rich and poor "largely negates the economic and social achievements of recent years,"

http://www.guardian.co.uk/world/2011/apr/11/russia-rich-richer-poor-poorer

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