Widgetized Section

Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone

Putin won elections surfing Russia with waves of economic promises.

´Sensitive´ Vladimir Putin won elections and will be President of Russia

"Sensitive" Vladimir Putin won elections and will be President of Russia.

"Sensitive" Vladimir Putin won elections and will be President of Russia.

Vladimir Putin’s win in Sunday’s presidential election in Russia has come at the cost of hundreds of billions of euros in spending promises that could initiate an economic crisis in Russia before his third six-year term is out.

Putin, who received 64 percent of the vote with nearly all ballots counted (observation groups contest the veracity of those results), improved up his electoral base by throwing påromises of money at everything from Defense matters to kindergartens.

The 59-year-old premier, returning to the Kremlin for a third term, has put the cost of promised public sector pay rises at 1.5 percent of gross domestic product (GDP) – around $30 billion per annum – in the coming years.

When the other new social spending commitments are added, Finance Minister Anton Siluanov told…READ MORE HERE