Russian preparations for the New Year holiday are clouded by economic recession and a tumbling currency, the ruble. Nonetheless, people in the Russian capital appear to be in a festive mood.
Despite economic worries, Moscow’s residents and visitors are flocking to Christmas fairs to enjoy seasonal and amusements.
But a fiscal freeze is descending. Falling oil prices and Western sanctions have undermined the ruble, driving up prices for imported goods and pushing Russia toward a recession.
President Vladimir Putin says the economic contraction will last a couple of years at most, but that is little comfort to many Russians, including shopper Soso.
“I’m trying …read more
Source: Voice of America
