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Russia has actually raised minimum wage and pensions by 10% due to the huge inflow of tax revenue. They also reduced the emergency 20% interest rate to 9.5% (ab

Russia has actually raised minimum wage and pensions by 10% due to the huge inflow of tax revenue. They also reduced the emergency 20% interest rate to 9.5% (about same as before). And I can't find the article, but I read somewhere that they're only losing about 1/3 of the original reserves that was originally announced. The EU is getting played by both Russia and America.

JumpCrisscross 4y ago
> Russia has actually raised minimum wage and pensions by 10% due to the huge inflow of tax revenue This is less than inflation. (Curious to see a source spinning it as a result of tax revenues. Even for the Kremlin, that's an idiotic argument.) It's also about the amount Russia's economy is expected to shrink this year.
- cpursley 4y ago
  - https://www.businessinsider.com/putin-to-hike-russian-minimum-wage-pensions-inflation-ukraine-war-2022-5 https://www.businessinsider.com/putin-to-hike-russian-minimu... - https://fortune.com/2022/06/14/putin-russia-oil-gas-profit-revenue-europe-china-india/ https://fortune.com/2022/06/14/putin-russia-oil-gas-profit-r... - https://www.bloomberg.com/news/articles/2022-06-10/russia-cuts-rates-to-pre-war-level-with-eye-on-ruble-and-economy https://www.bloomberg.com/news/articles/2022-06-10/russia-cu... Keep mind that the Russian government budget operates on a $40 gallon barrel of oil budget.
  - JumpCrisscross 4y ago
    Nobody has argued Russia isn't making a killing off its energy portfolio. But a quarter of a billion dollars of revenue, not profit, in a booming global economy no less, doesn't make up for a similar quantity of frozen reserves. Russia is weaker and poorer than it was at the end of last year. The Russian state is doing far better than was expected, domestically. Credit due where owed. But it's a growing share of a shrinking pie situation.
    - cpursley 4y ago
      Everyone is poorer than last year, unfortunately.
tester756 4y ago
Is increased minimal wage a sign of something good?

JumpCrisscross 4y ago

> Russia has actually raised minimum wage and pensions by 10% due to the huge inflow of tax revenue This is less than inflation. (Curious to see a source spinning it as a result of tax revenues. Even for the Kremlin, that's an idiotic argument.) It's also about the amount Russia's economy is expected to shrink this year.

cpursley 4y ago
- https://www.businessinsider.com/putin-to-hike-russian-minimum-wage-pensions-inflation-ukraine-war-2022-5 https://www.businessinsider.com/putin-to-hike-russian-minimu... - https://fortune.com/2022/06/14/putin-russia-oil-gas-profit-revenue-europe-china-india/ https://fortune.com/2022/06/14/putin-russia-oil-gas-profit-r... - https://www.bloomberg.com/news/articles/2022-06-10/russia-cuts-rates-to-pre-war-level-with-eye-on-ruble-and-economy https://www.bloomberg.com/news/articles/2022-06-10/russia-cu... Keep mind that the Russian government budget operates on a $40 gallon barrel of oil budget.
- JumpCrisscross 4y ago
  Nobody has argued Russia isn't making a killing off its energy portfolio. But a quarter of a billion dollars of revenue, not profit, in a booming global economy no less, doesn't make up for a similar quantity of frozen reserves. Russia is weaker and poorer than it was at the end of last year. The Russian state is doing far better than was expected, domestically. Credit due where owed. But it's a growing share of a shrinking pie situation.
  - cpursley 4y ago
    Everyone is poorer than last year, unfortunately.

tester756 4y ago

Is increased minimal wage a sign of something good?