The trouble with economics is it usually affects things slowly...change is like a mudslide, a few pebbles fall, it keeps raining for a long time, then *slorp*...👍
“Russian economic growth may slow down to 1.5% this year, Finance Minister Anton Siluanov said at a meeting with President Vladimir Putin. According to him, this is the assessment of the Ministry of Economic Development, whose figures are used to draw up the budget.” 👉 1.5%
“According to the Ministry's initial estimates, Russian GDP was supposed to grow by 2.5% this year. Thus, the department's official forecast has been reduced by 1.7 times, and compared to last year's growth (4.1%), the economy may slow down almost threefold.”
But the IMF already shifted their forecast to 👉 0.9% Last month
“The growth of non-resource industry, which reached 8.5% last year, amounted to 4.2% at the end of the "past months", and is expected to be only 3% by the end of the year, Deputy Prime Minister Denis Manturov told Putin.”
“The overall growth of industrial production will be 2%, he said. This is more than half the figures for 2023-24, when Rosstat recorded increases in output at factories and plants of 4.3% and 4.6%, respectively.” People in Russia don’t even trust Rosstat numbers
“The "rather tough conditions of the monetary policy" of the Central Bank had an effect, Siluanov explained to Putin. The Central Bank needs to continue lowering the key rate - this "will accelerate its own growth and will ensure a recovery trend for the manufacturing industries," Manturov added.”
Are they trying to blame the Russian Central Bank for this mess?
“After three years of military boom, when the GDP growth rate set a 13-year record, the Russian economy fell into depression: 20 trillion rubles spent on the army and weapons gave rise to a surge in inflation,…”
“…and in order to slow it down, the Central Bank raised the key rate to levels that the country has not seen since the early 2000s.”
“According to the IMF forecast, by the end of the year, the Russian economy will grow by 0.9%, three times slower than the global economy and five times slower than China.” The IMF could be wrong too, and the reality could be even worse.
Yes.
Trump does that, perhaps on Putin's advice! 😂
🎵 🕺💃 🎵
Vova, you don't need to listen to this! Shoot the messenger! Shoot the messenger!
When 85-years old academician Valentina Bondarenko wrote the same thing in a newspaper article, she miraculously fell out of a 10th storey window.
I understand it's no longer a forecast.
Who informed him, and did they fall through a window next?
Did he fire the chief economist because of these bad forecasts? (Just asking for an orange American "friend")
putin for a sharp deterioration next!
In that photo his right hand is reaching under the table for the trap door button. It solves a lot of problems.
Nice. But I'm tired ... that it costs Ukrainian lives and that our countries don't invest in real means to stop a murderer. Of his own country too. What do we fear? The picture is: because he doesn't fear us, this catastrophe is going on. And Ukraine should do the work for us? Then give all means
Wild that inflation can be around 20% while growth is around 1%.
Definition of stagflation.
Well, it's like tuning the whole industry on producing popcorn and literally nothing else, just to shoot it into the orbit for funsies. They shld have tried that to ruin their economy and leave Ukraine alone. Less people would have died and they wouldnt have alienated everybody.
It surely is. As far as I know Russia has stopped publishing certain statistics which tells a lot of the situation.