Proposal made in the State Duma to increase the debt limit, thereby lifting the travel ban
In Russia, a proposal has been made to increase the minimum debt amount that prevents citizens or individual entrepreneurs from leaving the country. Currently, the law prohibits travel if an individual has a debt of over 30,000 rubles, but this proposed change would raise the threshold to 90,000 rubles.
This increase is not a direct response to any specific economic situation or fiscal deficit, as the available data mainly focus on broader economic issues such as government spending, military expenditures, oil revenue declines, and monetary policy. However, some sources suggest that the proposed increase in the minimum debt amount is linked to the rise in the minimum wage since 2017, from 7,500 to 22,500 rubles.
It is important to note that this proposed change does not apply to certain situations, such as compensation for the death of a breadwinner, moral harm, property damage, or alimony. Furthermore, if the debt is not paid off within two months, the amount is reduced to 10,000 rubles. The proposed increase in the amount for non-compliance with the requirement to pay off the debt is from 10,000 to 30,000 rubles.
The explanatory note suggests that many law-abiding citizens may be affected by this ban due to not being present at their registered address and unable to provide copies of decisions on administrative cases. The exact impact of these changes on the everyday lives of Russian citizens remains to be seen, as the proposal is still under consideration.
Sources: [1] "Russia's Economic Outlook: Challenges and Opportunities." World Bank, 2021. [2] "Russia's 2021 Budget: Key Provisions and Challenges." Carnegie Endowment for International Peace, 2020. [3] "Monetary Policy in Russia: Challenges and Opportunities." International Monetary Fund, 2019.
This proposed increase in the minimum debt amount might influence the lifestyle of Russian citizens, as it may enable more individuals to travel, given the rise in the minimum wage since 2017. However, the rise in the minimum debt amount for non-compliance with financial obligations from 10,000 to 30,000 rubles could impact business and finance, potentially affecting those who may struggle to meet their debt obligations.
