HSE rector warned of the risk of sharp impoverishment of the middle class in Russia :: Society :: RBC

The rich as a result of the crisis become poorer, but remain rich, while the middle class is facing a decline, said HSE Rector Yaroslav Kuzminov in an interview with RBC

Yaroslav Kuzminov

(Photo: Alexander Scherbak / TASS)

As a result of the economic crisis associated with the SARS-CoV-2 coronavirus pandemic, the middle class could slide into poverty. This was in an interview with RBC, the rector of the Higher School of Economics Yaroslav Kuzminov.

“Most likely, incomes will fall among all sectors of society, but if the impoverished rich will still remain rich people, and the poor will still be poor, then for the middle class, which is now taking the brunt of it, there are serious risks of falling into poverty,” – said Kuzminov.

He noted that this trend concerns primarily the economy of services, including intellectual, and the economy of impressions, which provided space for the development of new creative projects.

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Source: JHU,
federal and regional
anti-virus operations

Source: JHU, federal and regional anti-virus operations

“It was the service sector that contracted the most. Large cities have been hit hardest by COVID19, and their economies have stopped the most, ”explained the HSE Rector.

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