US EditionRussian government, central bank spar over economic downturn
- Russian officials publicly disagreed on strategies to stimulate the economy amidst a slowdown, with Economy Minister Maxim Reshetnikov warning of a potential recession risk.
- Deputy Prime Minister Alexander Novak advocated for interest rate cuts, indicating a need for economic warming.
- Central Bank Governor Elvira Nabiullina highlighted that the current GDP slowdown is a necessary cooling phase that could help resolve overheating.
- The central bank recently cut interest rates for the first time since September 2022, but faces pressure to lower them further despite high inflation.
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The President of the Central Bank of Russia, Elvira Nabiullina, said that the economic progress generated by the war is exploding quickly, the key resources being almost exhausted. According to Kiev Independent, she warned that the country could no longer count on the same...
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Elvira Nabiullina: The current resources of the Russian economy are exhausted: EADaily
The head of the Central Bank of Russia, Elvira Nabiullina, who arrived at the St. Petersburg International Economic Forum (SPIEF), confirmed that many of the resources thanks to which the country's economy has been growing at record high rates over the past two years have actually exhausted themselves.
Last year, foreign direct investment in Russia fell to $3.3 billion, the lowest level since 2001.
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Total News Sources35
Leaning Left2Leaning Right7Center7Last UpdatedBias Distribution44% Center, 44% Right
Bias Distribution
- 44% of the sources are Center, 44% of the sources lean Right
44% Right
13%
C 44%
R 44%
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