29 minutes agoInflation hits the economy severely, Putin increases pension by 10 per cent, minimum wage
Periskopi(4 years ago)
(4 years ago)Russian President Vladimir Putin ordered a 10 per cent increase in pensions and minimum pay to cope with inflation in Russia, but denied that economic problems in the country were all related to the conflict in Ukraine. With inflation reaching near 18 per cent last month, Kremlin 1 admitted that [...]
This year is hard. Inflation has increased by 11 percent since its beginning. But when I say “hard” doesn't mean all difficulties are related to special military operation. Even in places where no surgery is under way, for example. North America or Europe, inflation is comparable to”.
But with his comments, Putin ignores the fact that inflation in Western economies is partly a direct consequence of what Russia describes as special operations in Ukraine, leading to increased energy prices and food products around the world. The increase in pensions will take effect from June 1st, while that of the minimum wage, by 1st July. Analysts predict the steps taken will not prevent the drastic loss of revenues.
Putin, whose support has increased by 10 per cent since the increased military campaign in Ukraine, pledged in March to reduce poverty and inequality this year, despite high inflation and Western sanctions. The Russian economy has been rocked by an unprecedented series of Western sanctions as a result of the war launched on February 24th. / A2 CNN
