In light of the ongoing financial crisis Russia faces, President Vladimir Putin has canceled the extended New Year holidays for Kremlin government workers.
The Russian economy is struggling in light of a declining currency along with investors losing faith and withdrawing. This came about for two reasons, i.e. the fall in the price of oil and the economic sanctions imposed on Russia following the military intervention in Ukraine.
At the risk of a major opportunity cost, Putin believes that the government ministries can do without the annual 12-day holiday that takes places at the start of the year.
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Naturally, because the world seems to either love hating or hate loving the man, there are some reactions:
Putin cancels holiday vacation for government. Question is if a more active government is good or bad for Russia? http://t.co/Bir17Vj7Id— Anders Östlund (@andersostlund) December 26, 2014
Putin cancels vacations for government for urgent work on economy. They'd be better off doing nothing. http://t.co/ibHkFSiZHi— Bill Browder (@Billbrowder) December 25, 2014
Given that the Russian economy is going to enter recession in the coming year, after unfolding from this crisis, the president stressed that “for the government, for your agencies we cannot afford this long holiday, at least this year – you know what I mean," in a televised statement.
From January 1-12, the entire Russian population typically goes on holiday; Orthodox Christmas falls in the middle on Jan. 7. But not this year, and certainly not on Putin’s watch.