Russia will become the biggest issuer of sovereign debt in emerging markets during the next decade as its aging society pushes up pension costs, exceeding revenue from oil, Bank of America Merrill Lynch said in an note as part of its predictions for the next 10 years.
Russia will remain reliant on revenue from oil as it will have “limited success in investing the oil windfall,” the bank said. The country will also have another “bust” during the decade ahead and will also increase taxes on income to pay for pensions, it said.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.