Pressure mounts on Putin to pull back from his pension pledge
One of President Putin’s many promises when he was campaigning for office was not to raise the age of retirement for Russians. But he also promised to eliminate the country’s massive deficit by 2015. Like many other countries in the world, the numbers of people over retirement age is growing in Russia, which is putting a heavy burden on the pension system. One of President Putin’s promises, it seems, will have to give.
RUSSIA is fast approaching a fiscal crisis, brought on by reckless political campaign promises. The core feature is the country’s crumbling pension system.
The Russian case is similar to many other countries wi...
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