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National Interests: Priorities and Security
 

Household debt load in Russia: A study of the problem and related factors

Vol. 19, Iss. 1, JANUARY 2023

Received: 3 November 2022

Received in revised form: 15 December 2022

Accepted: 26 December 2022

Available online: 16 January 2023

Subject Heading: NATIONAL INTERESTS

JEL Classification: D14, D31, E41, E44, E51

Pages: 44–70

https://doi.org/10.24891/ni.19.1.44

Tat'yana A. ZHURAVLEVA Orel State University named after I.S. Turgenev (OSU), Orel, Russian Federation
zhuravleva_orel@mail.ru

https://orcid.org/0000-0002-9065-5072

Anastasiya E. ZUBANOVA Orel State University named after I.S. Turgenev (OSU), Orel, Russian Federation
an.zubanova2606@yandex.ru

ORCID id: not available

Yuliya S. SOROKVASHINA Orel State University named after I.S. Turgenev (OSU), Orel, Russian Federation
an.zubanova2606@yandex.ru

ORCID id: not available

Yuliya I. GREVTSEVA Orel State University named after I.S. Turgenev (OSU), Orel, Russian Federation
n.a.grevtheva@mail.ru

ORCID id: not available

Subject. This article discusses the unstable economic situation in Russia and the policy of credit institutions.
Objectives. The article aims to identify the causes and factors of rise in outstanding loans, including overdue to credit institutions.
Methods. For the study, we used logical and statistical analyses.
Results. The article finds that the loan debts of individuals, including overdue, is growing at a faster pace than the real disposable incomes of the population. Most regions of Russia are characterized by a high level of household debt load – over 50 percent.
Conclusions. The level of debt load of the Russian population is dangerous both for financial institutions and for the national economy as a whole. The economic crisis, which has been going on since 2014, is the main reason for the household debt burden growth in Russia.

Keywords: household credit, real income, mortgage, debt burden, arrears

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