Thursday, August 20, 2015

The path to penury

ALMOST 500km (310 miles) separate Moscow, Russia’s glittering capital, from its lesser-known namesake, a dying village deep in the forests of the Tverskaya Oblast. The road that connects them begins as smooth asphalt beside the red walls of the Kremlin and ends as a rutted dirt track amid abandoned wooden homes. The characters that populate the towns and cities along the way often live very different lives. But as Russia’s recession deepens (the country’s GDP shrank by 4.6% in the second quarter measured year-on-year), the effects resonate across every stratum of society.

Inflation has eaten away at family budgets. Falling oil revenues have forced the government to tighten its belt (with the notable exception of defence spending). While many struggle, there is one constant: rather than panicking, Russians adjust. Memories of earlier crises loom—a reminder of how much worse it can get. Nationalist rhetoric serves as a healing balm. People push on. “Russia’s great strength throughout the centuries has been that its people can seemingly adapt to any conditions,” says Maria Lipman, a political analyst.

...



from The Economist: Europe http://ift.tt/1NnRhlk

No comments:

Post a Comment