US EditionRussia on Brink of Recession as Growth Slows
- On June 19, Russia’s Economy Minister Maxim Reshetnikov indicated that the country is approaching a recession as economic activity continues to slow.
- This situation follows record high interest rates, falling oil prices, Western sanctions, and logistical challenges weakening export revenues.
- Sberbank's deputy CEO Alexander Vedyakhin warned that the ruble is overvalued and the economy risks overcooling due to persistently high key rates.
- The central bank cut its key rate from 21% to 20% in June, but Vedyakhin projected growth between 1% and 2%, below the government's 2.5% forecast.
- Russia's budget deficit rose to 1.5% of GDP in the first five months, while economic slowdown suggests sustained fiscal challenges and restrained growth ahead.
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198 Articles
198 Articles
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Left
34
Center
50
Right
28
Russian President Vladimir Putin is reacting to warnings that the country's economy is heading into recession - and is urging those responsible...
·Stockholm, Sweden
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Daily Journal+29 Reposted by 29 other sources
Putin says recession in Russia 'must not be allowed to happen'
President Vladimir Putin on Friday urged officials not to let Russia fall into recession "under any circumstances", as some in his own government warned of a hit to economic growth.
·Cherokee County, United States
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The International Economic Forum in St. Petersburg serves Kremlin chief Putin as a showcase to the world. In his speech to thousands of guests, he wipes away concerns about an economic crisis.
Coverage Details
Total News Sources198
Leaning Left34Leaning Right28Center50Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 30%
C 45%
R 25%
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