Russia's economic development in 2019 is also likely to be hindered by Western sanctions. Putin's popularity waned somewhat in 2018 Image: Reuters/M. Nevertheless, mass protests are not expected. While Putin can still be confident that roughly two-thirds of Russians are behind him, the president's towering popularity appears to be a thing of the past. The decision to raise the retirement age in 2018 - which was also highly controversial - kicked off a significant decline Putin's approval ratings. The price increase is likely to have a significant impact on the already declining popularity of Russian President Vladimir Putin and his government. Among other things, the government hopes that this will at least partially compensate for cuts made to the health and education systems.Īuthorities deemed these cuts necessary due to the fall of oil and gas prices in recent years - Russia's most important export commodities. In Russia, the new year will kick off with price increases - the value-added tax (VAT) will jump from 18 to 20 percent.
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