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Monday, November 24, 2008

Crisis forces Russians to cut back vodka drinking

MOSCOW (Reuters) – The global financial crisis has grown so bad that Russians are cutting back on vodka. Stockpiles of Russia's national drink were six times higher at the start of the month than the same time a year ago because factories are producing vodka faster than they can sell it, an alcohol industry lobby and research group said on Monday. "People are having to save money, including on drinks, and this is connected to the impact of the financial crisis on people's disposable incomes," Pavel Shapkin, president of the National Alcohol Association (NAA), told Reuters. Research by his organisation showed deaths from alcohol poisonings in September increased to 1,458 -- the result, it said, of some Russians turning to dangerous vodka substitutes as they try to find a cheaper way of becoming intoxicated. Russia's economy has been among the biggest losers from the global financial crisis. Its stock markets have lost about 70 percent of their value since peaks in May, and workers have been hit by lay-offs and wage arrears.

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