Subject. This article examines the consumer component of economic growth. Objectives. The article aims to substantiate the need to improve the standard of living of the population of Russia and analyze the quantitative and qualitative characteristics of the standard of living of the country's population and the pace of its economic development. Methods. For the study, we used the general scientific research methods. Results. The article finds that the main factor limiting Russia's economic development is the excessive inequality between the incomes of the poorest and the richest. Conclusions. The article concludes that the investment model of socio-economic growth in Russia has not been formed. The full potential of the entrenched consumer growth model must be realized by expanding the material opportunities of low- and middle-income groups.
Keywords: economic growth, standard of living, poverty, consumption, socio-economic inequality
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