Krasnodar, 13 October – Yug Times. According to the results of the first nine months of 2023, the Krasnodar region ranked top third nationwide in terms of the number of judicial bankruptcies of natural persons. In January–September, over 11,800 bankruptcy procedures were recorded in the region, which was by 24.6% more compared to the same period last year, as follows from the statistics provided by Federal Resource. 

A similar trend was observed in the country on the whole – the number of bankruptcies of Russian natural persons increased by 28.8% (up to 249,900 procedures). Citizens, as a rule, were themselves the initiators of their own bankruptcy; in January–September 2023, they acted as the applicants in 96.6% of the procedures. Aleksei Yukhnin from Federal Resource noted that every month quite a large number of people are declared bankrupt in Russia – about 30,000. One of the reasons why the number of persons unable to repay their debts is increasing is the growth of the population's debt load. 

According to the project “For the Rights of Borrowers” implemented by the all-Russia Popular Front, the level of indebtedness (the ratio of average debt to average annual income) of households in the Krasnodar region in the first quarter of 2023 reached 41%. This was a 7% increase compared to the fourth quarter of last year. According to Irina Ryndina, PhD in Economics, Associate Professor at the Faculty of Economics of the Kuban State University, the optimal indicator of the credit load should not exceed 30% of the household’s income. 

“Whatever is above 30% may become an unbearable burden for a household budget,” Irina Ryndina emphasises. “However, such conclusions are fair if we talk about average incomes and loan amounts. If the income, for example, reaches 300,000 roubles [a month], the credit load of 50% does not look so critical. The average debt load of a household in the Krasnodar region was about 583,800 roubles, with 4.7% of the overdue debts. 

Igor Dodonov, an analyst at Finam Financial Group, says that the main reason for the growth of the credit burden is the difficult situation in the economy and the actual stagnation of the real disposable income of population. As a result, in order to maintain more or less acceptable living standards, many people have to fall even deeper into debts. According to the Krasnodar Statistical Committee, in 2022, the region's real disposable income (income less mandatory payments and contributions, adjusted for inflation) grew by only 2% compared to 2021. 

The expert Aleksandr Polidi distinguishes the impact of soft mortgage and car credits as one of the reasons for the huge debt load.

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