Windfall Revenues: Record growth in the real incomes of Russians was a result of military orders and labour market shortages
In 2023, the growth of real disposable income in Russia was significantly higher than in the previous ten years combined, amounting to 5.4%. The main driver was the growth of wages, which increased by 7.6% in real terms. In particular, wages surged in manufacturing and military-related industries. In some of them, wages jumped by 20% or more.