8/23/2024 β€” Russia experiences highest spike in wage arrears in decade 

Wage arrears are growing at a record pace in Russia (Photo:Sputnik/Kirill Zykov) 

From: New Voice of Ukraine πŸ‡ΊπŸ‡¦

Overdue wage arrears in Russia rose by more than 30% in July for the first time since January 2013, with the amount of unpaid wages reaching 427.4 million rubles (nearly $4.8 million), The Moscow Times reported on Aug. 21, citing Rosstat data.

Perm Krai and Lipetsk Oblast were the regions with the highest month-on-month growth, with an 11-fold and 8.3-fold increase, respectively.

Moscow, accounting for about 10% of the country’s wage arrears, saw a sharp increase of 7.4 times, or 42.4 million rubles ($465,000).

Other Russian regions are following this trend.

The Russian economy faced difficulties mainly due to a “lack of own resources”, with debts increasing by 38% to 405.9 million rubles (almost $4.5 million). The country’s regions accumulated about 21 million rubles ($230,000) in debts to public sector employees. In annual terms, this amount has increased 22 times.

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