Reducing Household Spending Is The Main Source Of Additional Cash In 2020
Monitoring of Russia's Economic Outlook. Trends and Challenges of Soco-Economic Development. Moscow. IEP. 2021. No. 5, pp. 3-9
7 Pages Posted: 5 Apr 2021
Date Written: March 23, 2021
In 2020, Russia saw a notable increase in the proportion of cash on hand in circulation. The main source of this additional amount of cash on hand was the reduction in household spending, which led to the non-return of cash previously put in circulation for transactions for the purchase of goods and services, as well hoarding of unspent income in cash as a precautionary measure in the face of increasing uncertainty.
Keywords: Russian economy, cash in circulation, COVID-19, household spending
JEL Classification: H31, E21
Suggested Citation: Suggested Citation