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Putin Cuts His Salary 10% as Russian Living Standards Decline

Russian President Vladimir Putin cut his salary, and that of his prime minister and other government employees, by 10 percent as the economy slides into the first recession in five years, eroding citizens’ living standards.

Putin, 62, ordered the wage reductions from May 1 to the end of the year, according to decrees posted Friday on the government website. Putin increased his and Prime Minister Dmitry Medvedev’s salaries by 165 percent in April last year. The president declared income of 3.7 million rubles ($60,000) in 2013, and Medvedev 4.3 million rubles.