Russian author warns middle class shrinking under debt

The article examines Russian writer Alex Belov's warnings about the erosion of the middle class in Russia due to rising living costs and declining purchasing power. It highlights that increasing debt and a surge in borrowing— which rose by 41.4% during the first eight months of 2026— are leading to deteriorating financial and social stability. The piece points out that the rising costs of food and taxes are placing a heavy burden on families, and the gap between the apparent financial situation and their actual living conditions reveals a genuine decline in the middle class, which is considered the foundation of economic stability. This decline is further exacerbated by increased dependence on debt, the spread of economic smuggling, and monopolies, all of which threaten Russia's future in the international system, turning the country into a middle-level nation lacking a stable middle class.

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