Russian President Vladimir Putin on Wednesday sought to reassure the country’s population of rising inflation while announcing an increase in pensions and social benefits.
“From June 1, I plan to increase pensions for unemployed retirees by 10%,” Putin told a televised government meeting.
As similar indexation of pensions has already taken place in January, pensions will rise faster than inflation, Putin said.
Annual inflation in Russia reached 17.8% in April, the highest level in 20 years.
However, Putin emphasizes that, according to experts, the rise in inflation has slowed down, and inflation in the country as a whole should not exceed 15% this year.
He also promised that the minimum wage will be increased by 10% from June to 15,279 rubles (about 240 euros) and other benefits will be increased.
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