Analyzing the use of money incomes of the population and consumer expenditure of households in the Chechen Republic in 2002–2021

Abstract

Subject. The article addresses the structure of using the monetary incomes of the population and household consumption expenditures of the Chechen Republic in 2002–2021. Objectives. The aim is to determine the income level of the population in the context of volume and quality of satisfaction of needs of the population and households, to make conclusions and propose measures to solve existing problems. Methods. The study draws on the comparative analysis, general scientific and economic-statistical research methods. Results. The study established that the structure of the use of monetary income and household consumption expenditures during the study period in the Chechen Republic improved significantly. There was an increase in the standard of living of the population in 2002–2021, however, at the same time, the Chechen Republic is noticeably lagging behind the average Russian level of monetary income. Conclusions. The average per capita income in the Chechen Republic is considerably lower than the average Russian level, and this gap persists during the period under analysis. Trends in the structure of the use of monetary incomes indicate a decrease in living standards in the region. Improving the standard of living of the population should become the main task of regional economic policy makers. The primary task of socio-economic policy makers in our country at all levels should be the creation of socio-economic conditions so that people would have a sufficiently high level of monetary income to meet their needs.