Russia: Moscow Tightens Its Belt

The Russian government is preparing for another few years of economic stagnation. The Duma, the lower house of Russia's legislature, approved a draft of a conservative 2018-2020 federal budget Nov. 17. As expected, the budget allows for increased social spending and a higher minimum wage, as well as increased pay for teachers and health care workers, ahead of federal elections in 2018. Otherwise, though, the modest spending plan reveals the Kremlin's expectations for three more years of sluggish economic growth....