“The country has burned through roughly half of its $106 billion liquid sovereign-wealth fund, which is used to pay troops’ salaries and new recruits bonuses, experts said.”
National Wealth Fund. Wait till the Russians find out there is no money for their pensions.
Wait till the Russians find out there is no money for their pensions.
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All my contacts in Russia ( I worked there for three years) are receiving their Pensions fine. In addition, they travel free on all trains, buses, metro, they get a free ticket on Aeroflot once a year. They don’t pay for medical care, and most not taxed when retired.
Their debt to GDP is 17 percent, not the 120 percent plus the US has…the US will go bankrupt way before Russia.