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Putin’s Spending Pledges Amount to $161 Billion, Capital Says

Russian Prime Minister Vladimir Putin’s campaign pledges before next month’s presidential vote will raise government spending by 4.8 trillion rubles ($161 billion) through 2018, Capital Economics said.

Spending will rise as much as 5 percent of economic output in that period, Neil Shearing, chief emerging-markets economist at the London-based research company, said in an e-mailed note.