Russians feel pessimistic about the economy but austerity is ending

RUSSIA / FSU POLITICS - In Brief 05 Feb 2019 by Alex Teddy
The Russian Government is easing off austerity. Government spending is due to rise 8% this year. Most of the rise will go to National Projects. Spending was cut four years in a row. Incomes have fallen for five years in a row in real terms. Polls show most people are despondent about the economy. The National Welfare Fund (NWF) is not going to be raided this year for spending in other areas. Last year the government took USD 16.8 billion from the NWF. Instead the government plans to borrow USD 22.9 billion domestically.

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