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    Russian President Vladimir Putin holds meeting with Government members

    Putin Tightens Belt, Takes 10% Pay Cut Amid Economic Stress

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    According to the Kremlin’s press service, Russia's President Vladimir Putin cut his administration’s and his own paycheck by 10 percent.

    MOSCOW (Sputnik) – Russian President Vladimir Putin has slashed his salary by 10 percent beginning March 1 as well as his administration’s salaries by the same amount beginning May 1, the Kremlin’s press service announced Friday.

    “Beginning from March 1 and ending on December 31, 2015, pay the president of the Russian Federation (Putin), the head of the government of the Russian Federation (Prime Minister Dmitry Medvedev)…their monthly salaries and quarterly bonuses with a decrease of 10 percent,” the order on the press service’s site reads.

    The Presidential Administration will get pay cuts beginning on May 1, according to the order.

    On February 24, State Duma House Speaker Sergei Naryshkin, Russia's lower house of parliament speaker, announced that Russia’s lower house of parliament intended to ask the Russian president to cut wages to lawmakers in order to correct the 2015 federal budget.

    The Russian economy has been experiencing a slowdown, caused mainly by the rapid decrease in oil prices, on which the Russian budget is heavily dependent. Western economic sanctions imposed on Moscow over the situation in Ukraine have also hit several key sectors of the economy.

    In January, the Russian government unveiled an anti-crisis plan set to stabilize the country's economy by 2017. The plan stipulates 10-percent spending cuts in most categories of the 2015 budget.


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