Wealth gap broadens in Russia due to Covid-19
Wealth inequality is already so high between different parts of Russia that a worker in Moscow can expect to earn four times more than someone in one of the four poorest regions
30 November 2020 - 14:47
Moscow — The coronavirus pandemic is set to widen the gulf between the richest and poorest parts of Russia as the government pushes the country’s far-flung regions to fend more for themselves.
The federal authorities are pushing regional governments to borrow more to help pay for rising health care and other social costs during the pandemic. Regions will increase their net borrowing by 400-billion roubles ($5.3bn) in 2021, compared with almost zero in 2020, according to estimates from NKR, Russia’s national credit ratings agency. Moscow will borrow a similar amount on its own...
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