Saturday, 22 May 2010

Russians starting to believe in financial future

Almost half of Russians believe the economic outlook is bright as consumer confidence continues to grow.

A survey from polling institute VTsIOM found that 46 per cent now believe that next year will be a good one for the country’s economy – up from just 32 per cent in February.

But there’s a sharp contrast between the views of those who are financially secure and those eking out an existence on low incomes.

The more affluent are far more confident: 62 per cent of them see blue skies ahead, while 40 per cent of low income earners fear that worse is still to come. Across the whole survey only 8 per cent are fearing a further fall in their quality of life – down from 20 per cent a year earlier.

Perhaps surprisingly, the regions are more optimistic. Russians in the south (57 per cent), the Urals (54 per cent) and the Far East (55 per cent) are mostly upbeat.

But in the Central federal district – which includes Moscow – 32 per cent still fear the worst is yet to come.

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