Russian President Vladimir Putin’s announcement yesterday that the government will soften a planned rise in the retirement age wasn’t altogether surprising, but it marks part of a broader slippage on recent fiscal reforms – including the new fiscal rule. One more immediate consequence is that fiscal policy is likely to be more supportive of economic growth in the coming quarters.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.