Russians feel the pain of international sanctions
Tuesday, March 01, 2022 | 3890 Views |
Russians feel the pain of international sanctions
He can't afford to get a mortgage in Moscow now interest rates have been hiked.
Millions of Russians like him are starting to feel the effect of Western economic sanctions designed to punish the country for invading neighbouring Ukraine.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...