Artist Mutilates Self as Putin Paralyzes Russia

Аннотация
Sluggish growth may be a prelude to a fiscal catastrophe awaiting Russia in another 20 years. That dire warning comes from a new study by a group of economists working for the Gaidar Institute for Economic Policy and the Presidential Academy of National Economy and Public Administration. Both institutions regularly receive government orders and grants for research. The group, which includes Boston University's Laurence Kotlikoff, estimated Russia's fiscal gap -- the difference between the present values of the country's future expenditures and future receipts -- at $28 trillion. Eliminating it would mean immediately raising taxes by 29 percent, cutting spending on everything except debt servicing by 22.4 percent, or working out some combination of revenue raises and spending cuts.