In the past four years, Russia’s $1.7 trillion economy has been in the world’s top 20. But in 2018, it has been plagued with problems stemming from under-investment, broadening state ownership of enterprise and Western sanctions over the 2014 annexation of Crimea. Now, rising value added tax and interest rates are triggering inflation warnings. VOA’s Pete Cobus reports from Moscow on how those warnings affect Muscovites preparing for their lavish Christmas and New Year’s holiday celebrations.
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