Experts predict that the worst economic impact of Western sanctions is still to come and expect Russia to plunge into a deep recession
Authorities had last week approved a $41 million program to support employment in Moscow by providing training and temporary “socially important work,” Sobyanin wrote on his blog.
Hundreds of mainly Western companies have said they were suspending their operations in Russia after the West announced a series of crippling sanctions on Moscow over its unprovoked war in Ukraine.
Sobyanin said the newly approved program plans to support more than 58,000 people who have lost their jobs in foreign firms. Around 12,500 of them will undergo retraining, the mayor added.
© Copyright LaPresse