Russia among countries whose financial well-being increased in 2022 – Kommersant

In 2022, global household wealth fell for the first time since the 2008 global financial crisis. report Swiss bank UBS. According to him, only a few countries have increased the level of well-being, including Russia.

According to the document, financial assets contributed the most to welfare decline last year. At the same time, non-financial assets (mostly real estate) remained “strong despite the rapid rise in interest rates.” UBS notes that the contribution of financial and non-financial assets could change in 2023 if home prices decline on the back of rising interest rates.

The leaders in losses in the financial market were the United States, which lost $5.9 trillion. Japan ($2.5 trillion), China ($1.5 trillion), Canada ($1.2 trillion) and Australia ($1 trillion) also suffered significant losses. The largest increase in wealth was recorded in Russia (by $600 billion), Mexico (by $655 billion), India (by $675 billion) and Brazil (by $1.1 trillion), experts say.

Household income in Russia grew rapidly between 2000 and 2020, averaging 13% per year, according to UBS. But analysts predict that the impact of the Russian-Ukrainian conflict will reduce wealth growth to 4.6% through 2027. “The total wealth of Russia today is similar to that of the United States in 1912,” the press release said.

Overall, in 2022, 44.5% of total wealth was owned by the top 1% of the world’s richest people. The number of dollar millionaires fell by 3.5 million to 59.4 million. “Global median wealth, which is arguably a more meaningful indicator of how the typical person lives, actually rose by 3% in 2022,” the USD added.

Russia earlier ranked fifth in the World Economics ranking of the largest economies in the world. The study is based on statistics from the International Monetary Fund and the World Bank, which published the GDP ranking of the countries of the world for 2022 in terms of purchasing power parity. China is the leader in this indicator with $31.5 trillion. Ministry of Economy was talking aboutthat in 2023 the Russian economy will definitely grow by more than 2%. Presidential Aide Maxim Oreshkin convincedthat the Russian economy is transforming faster than anyone predicted.

On the situation in the economy – in the material “Kommersant” “GDP has grown to the expectations of the authorities”.

Laura Keffer