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Russia has a plan to tackle its ‘demographic squeeze’





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  • Russia’s prime minister said Thursday the government wants to raise the retirement age.
  • He also said the country could also see higher value-added tax rates.
  • The proposals are aimed at raising government revenue amid a falling working-force population.

In efforts to tackle demographic challenges to Russia’s economy, Moscow looks poised to keep people working longer.

Prime Minister Dmitry Medvedev announced Thursday the government wants to gradually raise the retirement age from 55 to 63 for women and from 60 to 65 for men.

An increase in the retirement age could ease the “demographic squeeze” significantly, according to William Jackson, a senior emerging markets read more >>>

Source:: BusinessInsider.Com

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