Russia's Economic Slowdown: Taxes, Fees, and War Impact
Update: 2025-11-16
Description
Russias economy, driven by military spending, is slowing down due to decreasing oil revenues and a growing budget deficit. The Kremlin plans to raise money through new taxes and fees, impacting ordinary citizens and small businesses. These tax increases will affect a wider range of businesses, including local convenience stores and beauty salons. Many Muscovites express dismay about higher food prices and potential business closures. The cost to register a car will also increase, leading to higher prices for consumers. Experts suggest that President Putin will need to make tough choices within the next year to fourteen months to balance military spending with maintaining consumer abundance.
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