The experts at the Social Policy Institute at Higher School of Economics in Russia have estimated expected losses of social benefits funds as a consequence of the coronavirus (COVID-19) expansion across the country. The value of revenue loss would grow exponentially at a longer duration of the crisis and at more elevated unemployment rates. Thus, if the crisis lasted six months and caused a loss of only five percent of workplaces, the estimated losses would be measured at over 390 billion Russian rubles.
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Estimated loss of social benefits fund revenues* due to the coronavirus (COVID-19) in Russia in 2020, by crisis duration and employment reduction rate
(in billion Russian rubles)
* Revenues from three extra-budgetary funds that provide about 70% of all social benefits in Russia are generated from two sources. Own income depends on the amount of insurance premiums that employers pay monthly from employees' salaries at a rate of 30% (22% goes to the Pension Fund, 5.1% to the compulsory health insurance, 2.9% to the Social Insurance Fund). The rest of the total income of the funds is formed by transfers from the federal budget.
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Higher School of Economics. (April 1, 2020). Estimated loss of social benefits fund revenues* due to the coronavirus (COVID-19) in Russia in 2020, by crisis duration and employment reduction rate (in billion Russian rubles) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1108913/russia-covid-19-influenced-loss-of-social-benefit-funds/
Higher School of Economics. "Estimated loss of social benefits fund revenues* due to the coronavirus (COVID-19) in Russia in 2020, by crisis duration and employment reduction rate (in billion Russian rubles)." Chart. April 1, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1108913/russia-covid-19-influenced-loss-of-social-benefit-funds/
Higher School of Economics. (2020). Estimated loss of social benefits fund revenues* due to the coronavirus (COVID-19) in Russia in 2020, by crisis duration and employment reduction rate (in billion Russian rubles). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1108913/russia-covid-19-influenced-loss-of-social-benefit-funds/
Higher School of Economics. "Estimated Loss of Social Benefits Fund Revenues* Due to The Coronavirus (Covid-19) in Russia in 2020, by Crisis Duration and Employment Reduction Rate (in Billion Russian Rubles)." Statista, Statista Inc., 1 Apr 2020, https://www.statista.com/statistics/1108913/russia-covid-19-influenced-loss-of-social-benefit-funds/
Higher School of Economics, Estimated loss of social benefits fund revenues* due to the coronavirus (COVID-19) in Russia in 2020, by crisis duration and employment reduction rate (in billion Russian rubles) Statista, https://www.statista.com/statistics/1108913/russia-covid-19-influenced-loss-of-social-benefit-funds/ (last visited July 22, 2024)
Estimated loss of social benefits fund revenues* due to the coronavirus (COVID-19) in Russia in 2020, by crisis duration and employment reduction rate (in billion Russian rubles) [Graph], Higher School of Economics, April 1, 2020. [Online]. Available: https://www.statista.com/statistics/1108913/russia-covid-19-influenced-loss-of-social-benefit-funds/
