August 29, 2018 / 1:52 PM / 3 months ago

Russia's Siluanov says Putin's pension proposals to cost 500 bln rbls

MOSCOW, Aug 29 (Reuters) - Russian Finance Minister Anton Siluanov said on Wednesday that changes to pension reform proposed by President Vladimir Putin would cost the budget around 500 billion roubles ($7.3 billion)over a six year period.

Putin earlier on Wednesday diluted draft legislation to reform the pension system which has knocked his popularity and stirred protests, but said on Wednesday that Russia’s shrinking workforce meant reform was inevitable and would still hurt. ($1 = 68.3300 roubles) (Reporting by Darya Korsunskaya; Writing by Tom Balmforth; Editing by Alison Williams)

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