Russian President Vladimir Putin has enacted legislation granting debt relief to new recruits joining the military to serve in Ukraine, as confirmed by a government website on Saturday.
Reports indicate that the law permits the cancellation of debt arrears up to 10 million roubles (£77,000) for individuals signing contracts with the Defence Ministry to serve in Ukraine for a minimum of one year, starting from 1 December.
To boost military enlistment, Russia has been offering significantly increased financial incentives, often far exceeding the national average income, to those willing to participate in the conflict.
The strategy has enabled a rise in troop numbers in the combat zone without the need for another general mobilisation, which in September 2022 led to widespread emigration from Russia.
Meanwhile, central bank data reveals a sharp rise in consumer borrowing since the Kremlin’s military campaign began in 2022, despite an increase in the central bank’s interest rate to 21% in October.
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