Russian Offshore Wealth Likely Equal To Country’s Entire Household Wealth

WASHINGTON — Capital flight from Russia is now likely equal to the collective wealth of all Russian households, according to a new report by a respected U.S. research firm, a trend that has helped to drive the country’s income inequality to extreme levels.

 

The National Bureau of Economic Research says in a paper being published this month that the top 1 percent of Russians now hold up to 25 percent of the country’s wealth, a function of capital flight that has accelerated in recent years.

You can read the rest here.

Leave a Reply

Your email address will not be published. Required fields are marked *