The Russian government is preparing for another few years of economic stagnation. The Duma, the lower house of Russia's legislature, approved a draft of a conservative 2018-2020 federal budget Nov. 17. As expected, the budget allows for increased social spending and a higher minimum wage, as well as increased pay for teachers and health care workers, ahead of federal elections in 2018. Otherwise, though, the modest spending plan reveals the Kremlin's expectations for three more years of sluggish growth. Russia is dealing with a variety of financial challenges. In recent years, the government in Moscow has spent nearly $100 billion to bail out the banking sector . To make matters worse, a growing number of companies in the country are declaring bankruptcy, several provincial governments are more than $100 billion in debt , and many prominent state-owned firms are struggling to stay afloat.