MOSCOW, Sep 12 (PRIME) -- Russia’s Economic Development Ministry expects a contraction of pensions in real terms in 2018–2020, Vedomosti business daily reported on Tuesday citing the ministry’s macroeconomic forecast verified by two federal officials.
“Pensions in Russia will not rise during the next three years and will fall in real terms due to non-indexing of payments to working pensioners… According to a basis scenario, which is a foundation for the budget, pensions will decline 0.7% in 2018, and 0.6% annually in 2019–2020,” the daily said.
A spokesperson for the ministry said the 2018–2020 forecast will be released after a government approval, and the process to form the budget has not been finished yet, Vedomosti reported.
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