Putin declares cash payments for pensioners ahead of polls
Vladimir Putin
Russian President Vladimir Putin on Tuesday declared USD 135 for pensioners in an apparent bid to drum up support ahead of next month's parliamentary elections. It is considered that Putin's ruling United Russia Party may struggle.
Putin has already announced many social spendings aimed at acting as sweetener in the election season. Rising prices and falling wages have dented United Russia's ratings.
As per a statement by the Kremlin, Putin has ordered payments of 10,000 rubles (USD 135). The payment will be handed out in September. This effectively doubles the monthly state pension.
In a meeting with United Russia officials on Sunday, Putin said that pensioners had been hit hardest by this year's soaring inflation.
Annual inflation in Russia has reached 6.5 per cent. The central bank in June hiked key interest rate to the same figure. This is the biggest increase since 2014 currency crisis.
Putin on Sunday also proposed giving 15,000-ruble bonuses to military staff.
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In June he promised to spend billions on repairing roads and developing public transport, infrastructure and healthcare.
United Russia's ratings started falling steeply in 2018 after the government passed a controversial pension reform plan that raised the retirement age.
The move came as Russia's economy had been stagnating, battered by waves of Western sanctions after Moscow annexed Crimea in 2014.
Ahead of next month's election, United Russia is polling around 30 percent, according to state-run pollster VTsIOM -- a 10-point drop from the last lower house elections in 2016.
The party currently controls 75 percent of seats in the State Duma, with the rest held by parties widely seen as doing the Kremlin's bidding.
(With inputs from agencies)