Story perspectives
Russia's Wage Debts Surge 43.5% Amid Economic Strain
2/8/2025
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Story summary
- By January 1, 2025, Russian companies' employee wage debts reached RUB 507.9 million (US$5.7 million), marking a 43.5% increase.
- Overdue wage arrears have risen for the first time since 2015, mainly impacting construction and manufacturing sectors.
- As of June 2024, total bank loans for Russian citizens exceeded RUB 40 trillion (US$460 billion).
- Authorities intend to empower the Federal Tax Service to collect tax arrears without court involvement.
