Transformation of Household Savings in the Russian Federation in Conditions of High Macroeconomic Risks in 2022

Abstract

In the context of growing macroeconomic risks in 2022 caused by the financial and economic consequences of the global pandemic, the application of unprecedented sectoral and personal sanctions against the Russian Federation has led to the formation of new trends in the functioning of the finances of Russian households. The factors mentioned above change their income level, socio-economic motivation, consumer attitudes and, as a result, the volume and structure of citizens' savings. The study used the decile method of household income analysis in 2022. As a result of the study, the following trends were revealed: the incomes of households with the lowest incomes in 2022 practically did not fall due to the active social support of the state; the incomes of households with relatively high wages decreased by 2–3 %; during 2022, the value of organized savings decreased, and the value of unorganized savings on the contrary increased, especially in foreign currency; income analysis has shown that two thirds of households are actually unable to form savings, creates small insurance reserves.