The Economic Hope Index sunk to one of the lowest levels ever

According to the Annual End of Year Survey conducted by Gallup International, only 6% of Russians expect a better year in 2021, while 47% think things will be worse.

Photo: Pavel Golovkin / AP

The index of economic hope, sunk to minus 41 pp, which is one of the lowest readings in the survey’s 23 years of history. The index of economic hope is derived by subtracting the percentage of respondents who think the economy will get worse next year from the percentage who think the economy will be better.

In the 2020 survey, 6% of Russians surveyed expect the economy will be better in 2021, and 47% think the economy will get worse, thus the index reading is minus 41pp (6-47). 40% of respondents say 2021 will be the same as 2020 and 8% answered “don’t know”

The lowest reading in Russia in the past was minus 43 pp recorded in 2013, minus 41 pp in 1998 and minus 39 pp in 2008. The highest reading was 9 pp, observed in 2006.

The most pessimistic country was the UK, where the index was at minus 62 pp, Bulgaria and Italy (both at minus 59 pp). The most optimistic was Nigeria (58 pp), Azerbaijan (47 pp) and Vietnam (45 pp).

Source: RBC

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