Analysis-Putin grows war economy but incomes suffer 'lost decade'


  • World
  • Thursday, 14 Mar 2024

Russian President Vladimir Putin makes a video address dedicated to the upcoming presidential election, in Moscow, Russia, in this picture released March 14, 2024. Sputnik/Mikhail Metzel/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.

LONDON (Reuters) - When President Vladimir Putin ran for re-election in 2018, he promised a "decisive breakthrough" in living standards. Six years later, as Russians go to the polls again, he is recycling old promises with new deadlines.

In a major speech last month, Putin pledged more than 11.5 trillion roubles ($125 billion) of spending on areas ranging from mortgage subsidies and tax breaks for young parents to sweeping upgrades to public infrastructure.

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