Russians began to spend more on loans and tax payments

UFA, 1 July 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

State payments (taxes and fees) and loan servicing in the structure of household spending increased by 12.2 percent in 2018. It is reported by RBC quoting the data of Rosstat. The previous time, the comparable increase in spending on payments to the state and servicing loans was in 2014, then the share of such expenses for the year increased by 10.2 percent.

The news agency notes that the growth of payments on loans is due to the fact that Russians are forced to borrow funds to maintain a standard of living amid wealth declining. At the end of 2018, the volume of credit payments of Russians increased by 29 percent (or 444 billion rubles). In 2018, Russian citizens debt to banks increased by 22.4 percent, to 14.9 trillion rubles, demonstrating the maximum growth since the pre-crisis year 2013.