NEWSWATCH: “Russia’s pensioners squeezed as recession bites” – Financial Times
The Financial Times covers the impact of Russia’s economic downturn on older Russians.
Several Russian regions have over the past year been forced to suspend benefit payouts or stop the inflation indexing of public sector wages. … The dramatic slide in crude prices has slashed revenues from the export of oil and gas which account for more than half Russia’s budget. The money is simply running out.