MOSCOW – Russian President Vladimir Putin war against oligarchy and corruption has found a new victory. Putin earlier today has said that the Prosecutor General’s Office of the Russian Federation had achieved a settlement for wage arrears for public sector workers in 2018 in the amount of more than 26 billion rubles, or roughly $400 million dollars. He said this at the oversight board meeting on Tuesday, March 19th.
“With the direct participation of the prosecutor’s office, the salary debts for citizens were repaid. We continued to monitor compliance with the laws and in the public sector. Salary is, of course, a significant result. The debt was repaid in the amount of more than 26 billion rubles,” RIA Novosti quotes the head of state .
On March 13th, it was reported that Rosstat will consider the idea of changing the methodology for calculating the real income of Russians. The reason for this was a statistical drop in incomes of residents of the country for several years in a row. According to economists, this data differs from real wages and retail turnover, which has been growing since May 2017.
Western sanctions against Russia are aimed at slowing down the inevitable and coming Eurasian integration process, which is happening through high-speed transportation rail lines such as China’s OBOR, and the necessary economic policies that will come from this.
While these sanctions have found some success in slowing down business transactions between Russia and the EU, in both raw and relative terms, the volume and rate of transactions are nevertheless growing. Meanwhile, the nature of the sanctions has had an effect on the Russian economy that Atlanticist planners may have miscalculated. Rather than forcing Russia to heel, the lower-valued ruble has instead inspired a boom in local production, and towards Russian autarky. This has lead to an increase in real wages especially in the retail and service sector of the economy as well.