Another sign of weakness in the Russian economy?--Retirement age raised for men and women

Washington Times:
Russian President Vladimir Putin’s approval ratings have survived reports of high-level corruption and falling living standards in recent years, but they are now falling quickly because of a government plan to raise the national retirement age.

Prime Minister Dmitry Medvedev announced last month that the state pension age would rise gradually beginning next year — from 55 to 63 for women and from 60 to 65 for men. The increase marks the first change to retirement age norms, which Soviet authorities established in the 1930s.

The announcement triggered anger and nationwide protests that appear likely to grow.

Nearly 60 percent of Russian men die before age 65, according to statistics. Although average Russian women can expect to live to 73, many say their employment opportunities are limited once they reach middle age.

“A significant portion of Russian citizens will not survive to retirement,” said a statement by the Confederation of Labor of Russia, a national trade union that is spearheading opposition to the pension reforms.

The government announced the move on the opening day of the World Cup in an apparent bid to bury bad news.

Mr. Putin previously pledged to never increase the retirement age for Russians.

In his remarks on June 14, Mr. Medvedev said the government’s value-added tax would rise from 18 percent to 20 percent to draw an extra $9.6 billion into the Russian treasury. The prime minister described the increase as “unavoidable and long-overdue.”
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This is happening at a time when Russia is also cutting back on its defense spending and will not mass produce a plane designed to compete with the US F-35.  The Russian economy is now smaller than that of the State of Texas and it is engaged in a costly war in Syria.  It seems clear that it is no longer a superpower and cannot afford to continue acting like it.  About the only thing it has going for it right now is the US Democrat party which attempts to act like Russia is more powerful and dangerous than it really is.

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