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 Shuffling deck chairs on the apparatchik Titanic: Russia unveils $43.98 billion anti-crisis plan, silent on cuts to pay for it

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Shuffling deck chairs on the apparatchik Titanic: Russia unveils $43.98 billion anti-crisis plan, silent on cuts to pay for it Vide
PostSubject: Shuffling deck chairs on the apparatchik Titanic: Russia unveils $43.98 billion anti-crisis plan, silent on cuts to pay for it   Shuffling deck chairs on the apparatchik Titanic: Russia unveils $43.98 billion anti-crisis plan, silent on cuts to pay for it Icon_minitimeThu Jan 29, 2015 3:48 am
Russia announced a $43.98 billion "anti-crisis" spending plan on Wednesday to bail out an economy battered by Western sanctions and falling oil prices, but gave few details of the deep cuts it said would be enacted this year to pay for it.

Shuffling deck chairs on the apparatchik Titanic: Russia unveils $43.98 billion anti-crisis plan, silent on cuts to pay for it 1422474888948

The 2.34 trillion ruble spending plan includes 1.55 billion rubles ($27.8 million) to support banks, most of which was already announced last year and which many analysts say is still a fraction of what Moscow will have to spend to keep its lenders afloat.

The plan focuses mainly on bailing out banks and big companies to help them weather the immediate impact of the crisis, at the expense of long-term development programs. Extra money would also be spent to increase pensions in line with higher-than-expected inflation.

http://www.smh.com.au/world/russia-unveils-4398-billion-anticrisis-plan-silent-on-cuts-to-pay-for-it-20150128-130ivq.html
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