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Economic News
Wages increase
Real Russian disposable income was up 11.6% in March 2004 as compared with the previous year, the State Statistics Committee of the Russian Federation has reported.
For the first quarter of 2004, Russian wages, adjusted for inflation, were up 13.9% year-to year and real average individual monthly earnings were up 15.8% the Committee also stated.
Use of Credit Cards increases
Statistics issued recently indicate that Russians now have more and are spending every more on credit cards. Russian visa cards accounted for more than a quarter of a million dollars of expenditure whilst travelling abroad last year representing an increase of 26%. The highest turnover was in France with Germany, Italy and Great Britain close behind. On a bright note one Russian tourist visited Honduras and settled an account worth $.13.- This enabled Honduras to enter the International statistics.
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