November 21, 2008 By James Kimer

RBK Daily: Unpaid Wages Accumulating

Below is another exclusive translation from the Russian news outlet RBK Daily, a pro-government source that sometimes serves as an unintentionally illuminating guide to Kremlin thinking.  This piece of news, which has also been hit by the Journal, is rather more straightforward.

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For labor they have stopped paying

Wage arrears are growing in Russia

Yesterday Rosstat published alarming data about wage arrears. In October they increased all at once by 33.4% compared with last years, to 4 bln rub. The arrears were to 300 thsd. persons, nearly half of them (43%) — workers in manufacturing. The main reason for the delinquencies — non-payments between enterprises and inaccessibility of credits. The anti-crisis measures of the government are lagging behind, state experts. Even if the adopted decisions work, the effect will manifest itself only in several months.