Thanks to "coffin" payments in poor regions of the Russian Federation, the savings of citizens have increased dramatically

In poorer regions of the Russian Federation, such as Buryatia, Altai, and Tyva, savings accounts of citizens have increased dramatically. This is due to payments to contractors and mobilized soldiers participating in the war, as well as to the payment of "coffin payments.

This was reported by Radio Liberty Siberia.Realii, citing an analytical note published by BOFIT, UNN reports.

Details

Several regions of Russia showed abnormal growth in bank accounts. With an average growth rate of six to nine percent in the previous five years, in 2023 Altai showed an increase of 18.95 percent, Buryatia - 33.26 percent, and Tyva - a record 57.57 percent

Such a sharp increase in bank accounts is attributed to payments to contractors and mobilized soldiers participating in the war with Ukraine. Also, "coffin payments" - compensations to the families of the killed and wounded - contributed to the increase in the welfare of the population.

After comparing the list of regions that showed the maximum increase in funds in their accounts and the regions that sent the largest number of mobilized men to war, researcher Laura Solanko concluded that there is a consistent link between the growth of the population's welfare in these regions and the share of mobilized men

The Medusa publication clarified that the sharp increase in the volume of bank accounts cannot be explained by high inflation in these regions, or by the peculiarities of their banking market, or by other macroeconomic factors.

 Altai, Buryatia, and Tyva are among the poorest Russian regions. They accounted for the largest share of casualties among the Russian military involved in the invasion of Ukraine.

Recall

The losses of the Russian occupiers since the beginning of the full-scale invasion of Ukraine have already reached about 412,610 people, 6,570 tanks and hundreds of pieces of military equipment.