OREANDA-NEWS. The fall in Russia's GDP will reduce the standard of living of the population, as its income will also fall, economist Andrey Bystrov warned Pravda.Ru. The decrease in GDP in 2022 by more than 10% was previously predicted by the head of the Accounts Chamber Alexei Kudrin.

We must prepare, I think, for a decline in the living standards of the population. Life will get worse. If GDP falls by 10%, the income of the population decreases in proportion to this, Bystrov said.

He added that this is a lot, usually the country's GDP increased by 3-4% per year, and sometimes by 7%.

Economist Vladimir Salnikov said that prices have already risen in conditions of high inflation, and incomes will not catch up with them, even though salaries will be nominally increased.

Earlier, Nikolai Kulbaka, Candidate of Economic Sciences, said that the forecast of a fall in Russia's GDP by more than 10% is the minimum estimate, because in reality the spread is from 10% to 30%. The economist believes that the decline in GDP will hit the service sector, companies working with foreign partners and firms using foreign components, as well as retailers. Ordinary citizens will be the first to face rising prices. In his opinion, the country is entering a very difficult crisis, from which it will probably come out over the course of a decade.