Economists: Russians pay for predamage at 445 billion annually

Russian consumers because of the food counter-sanctions every year lose 445 billion rubles in prices of 2013, writes “Kommersant”, citing a joint study by economists in the Academy and the Center for economic and financial research and development (CEFIR).

The experts who conducted the study, assessed changes in consumption, production and prices of the products from the sanctions list in 2018 in comparison with 2013. As materials for the experiments, we used data of Rosstat, data of Euromonitor and the UN.

According to estimates, over the last five years the annual loss of customers reached 530 billion roubles, and the total benefit to consumers of import substitution account for about 75 billion rubles a year. Thus, the annual losses reach 445 billion rubles, or about 3 thousand rubles per person, which is 4.8% of the cost of the minimum food basket.

The study authors also note that most of the items from the list of “sanctioned” goods to completely replace failed. According to economists, for some industries import substitution has had a positive effect, but in General it has not changed the situation in which the Russians continue to pay the sanctions out of his pocket.

We will remind, the ban on the import into Russia of certain types of food products from the USA, Norway, Australia, Canada and EU countries was introduced in 2013 as a response to anti-sanctions imposed over the annexation of Crimea and the situation in the Donbass. In 2015, the embargo has also affected Iceland, Liechtenstein, Albania and Montenegro. In 2015, according to the decree of the President of the Russian Federation sanctions products began to destroy on the border.

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