Panorama of Poverty
- Pavel Latushka
- Nov 25
- 6 min read
I propose that we talk about what is actually happening with the financial wellbeing of people in our country. Not about propaganda videos, not about television fairy tales about “stability,” but about real life — the way citizens themselves see it. And we will speak not on the basis of assumptions or someone’s emotions, but on the basis of official studies conducted by the very institutions that the illegitimate authorities themselves like to call “objective” and “trustworthy.”
Recently, the marketing service of Belarusbank conducted a large-scale study of the financial behavior of its clients. Nearly 18,000 people took part in it. This is such a large dataset that it cannot simply be dismissed. And the results speak with the voice of the people — a voice the illegitimate authorities refuse to hear.
What do we see?
The average Belarusian lives exclusively on their salary. For 73% of respondents, this is the main source of income. And this is not because people do not want to develop, create businesses, or look for additional income. It is because the country lacks conditions in which such initiatives would be protected. And among the main mandatory expenses are, of course, utilities, which continue to rise, consuming more and more of the family budget. Just look at how much heavier your bills have become recently. I think many of you have unfortunately already felt this.
But let us look further. According to the Belarusbank study, 65.5% of respondents attempt to save money or set aside funds for specific goals. It may seem like good news. But what follows is exactly what the regime would prefer to hide.
The level of investment activity is only 3.7%. This is not just low — it is evidence of total distrust in the financial system. And this distrust is confirmed by another figure: 79.9% consciously refrain from investments. Almost 40.6% keep cash at home, and 39.3% simply leave money on their bank cards. Only 18.6% choose bank deposits.
What does this mean? People do not trust those who manage the banks. People do not trust a system that for years has been reshaped to serve the interests of a narrow circle of appointees. And when 47.4% avoid credit or view it negatively, this is not about "financial literacy". It is about people not believing that if they take a loan, they will be able to live normally afterwards — rather than end up trapped in a system that does not work in their interests.
Let’s be honest: all of this reflects distrust toward those who today stand at the helm of the banking system — toward those who suppress competition, close financial markets, and manually regulate interest rates. It reflects the fear people feel about tomorrow — a fear the authorities themselves create.
Look at another fact. Despite the loudly proclaimed "de-dollarization", 40.9% of Belarusians continue to keep their money in foreign currency. This is the people’s direct response to officials’ statements: Belarusians vote with their savings — and they are not voting for the Belarusian ruble.
And one more important point. In the absence of trust in the state, 31.9% of respondents invest in themselves. People understand that in a country where rules change at someone’s whim and decisions are made behind closed doors, the most reliable asset truly remains one: one’s own knowledge, skills, and health.
Investment in real estate is possible for only 22.7%. This is also telling. When an economically active and hardworking population cannot afford to buy housing, the problem is not with the people.
Now about loans. According to the study, only 33.2% take loans out of necessity, in extreme situations — when they need to cover vital needs, not to invest in something long-term or develop their business. Loans today are not an instrument of development — they are an instrument of survival.
And now the most alarming part. Only 50.9% have a financial safety cushion. And half of them — specifically 24.2% — have savings sufficient for no more than three months. This means that 73.3% of Belarusians live without meaningful savings, without protection, without confidence that an unexpected illness, job loss, or economic shock will not turn their life into a catastrophe.
And finally, the question of the future — the question of pensions. 81% of respondents do not consider pension planning through existing savings systems at all. This is not just a number. It is a diagnosis of the system. People do not trust the state. They do not believe that decades of honest work will provide them with a dignified old age. And this is also the result of years of policies that destroyed trust in institutions.
There is another study — published by the National Bank last year. It is a study of the financial literacy of the Belarusian population, conducted by the Sociology Institute of the National Academy of Sciences. This study not only confirms the conclusions of the survey I already described, but paints an even darker picture.
What does it show?
Belarusians have once again stopped relying on the state. Only 8.5% rely on this system for their financial future. Belarusians are so poor that the vast majority cannot afford serious savings. Only 9.4% had savings exceeding three months of expenses. This means that 90% live essentially from paycheck to paycheck.
Belarusians distrust the credit and financial system to such an extent that 44% have never taken a loan or installment plan. They consider such loans unprofitable, dangerous, and unaffordable under current conditions.
The country lacks conditions for investment — and this is shown by another figure: only 8.4% are ready to invest additional income. The rest are satisfied simply to preserve their money. Therefore, some of those who have any savings at all put them into real estate — 23% of respondents — as it appears to be the only way to protect their wealth.
What does all this mean?
It means that the system that was supposed to provide confidence, development, and protection has been destroyed. That state institutions have lost trust. That Belarusians have learned to rely only on themselves — because there is no one else to rely on.
All these numbers are not just statistics. They are the stories of millions of families. Stories of people who are tired of living in fear, tired of keeping money "under the mattress" because they fear losing everything in one day. Stories of people who see that their work does not provide them safety. Stories of people who understand: the problem is not them — the problem is the system.
But there is another side to these studies. They show that Belarusians can be responsible, can plan, can work, can develop. They are ready to save, ready to invest in themselves, ready to secure the future of their families. Belarusians do not lack discipline — they lack conditions.
And these conditions can be created. This is not something impossible. This is not an “economic miracle” that exists only in textbooks. This is normal life, in which a citizen is protected, their money works, their efforts pay off, and the state is a service provider — not an instrument of pressure.
We are fighting for exactly this kind of Belarus.
For a country where:
banks operate honestly and transparently,
loans are a tool for development, not a trap,
investment is an opportunity, not a risk,
savings are not a luxury,
older people are confident about tomorrow,
and the state is a partner, not a supervisor.
We are fighting for a country where it is not 3% but the majority who can freely invest and grow. Where not half, but nearly everyone has a solid financial safety cushion. Where 40% do not hide foreign currency at home, fearing yet another sudden decision from above. Where people are not afraid to look into the future.
Belarus can be such a country. Belarus must be such a country.
And the clearer people see the real picture, the closer the day when trust in institutions will be restored, when the economy will work for citizens, and when power will belong to society — not to a narrow circle of individuals.
And I am confident: when the system changes, Belarusians will demonstrate how quickly a country can be rebuilt — a country that becomes a home for everyone. Without fear. Without pressure. Without distrust.
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