NEWSWATCH: “Russian government finds itself under social spending pressure in election season” – bne Intellinews
The Russian government will discuss either indexing pensions by 8.6% on September 1 or making a one-time payment to pensioners …. Despite the ongoing efforts to consolidate the budget amid the unprecedented fiscal squeeze, the government might have to give in to increasing social spending as the two-year election season starts …. The Russian government needs to find RUB2 trillion ($31bn) from somewhere to plug the gaping hole in the federal budget, as the country runs its first deficits since … Putin came to power …
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