This is one of the economic indicators Russia can’t hide, and it’s not looking good.
In 2022 when they increased interest rates to 20%, they strengthened the Ruble by a lot, doubling the value of the Ruble.
But the Ruble has been declining since, and now even with nearly as high an interest rate of 19%, The Ruble is almost as low as the dramatic drop in 2022 that caused the interest hike to 20%.
This is the second time in a couple of months they increase interest rates, and combined they are a 3% increase in a short time. And the Ruble remains at a low value.
For anyone in doubt, this is a strong indicator that the Russian economy can’t handle the pressure of the war. Russian wages are losing value fast, and investments are very expensive, so a further decline in the Russian economy is likely. Especially since there is no cheap unemployed labor to draw growth from, which there normally would be in a situation of economic decline, but there is already full employment.
The Russian economy is in decline and overheating at the same time.
If Russians elected a log to be president and it stayed in power since 2000, they would have enjoyed a much better economy right now. Allowing a complete lunatic to stay in power is complete lunacy.
This is one of the economic indicators Russia can’t hide, and it’s not looking good.
In 2022 when they increased interest rates to 20%, they strengthened the Ruble by a lot, doubling the value of the Ruble.
But the Ruble has been declining since, and now even with nearly as high an interest rate of 19%, The Ruble is almost as low as the dramatic drop in 2022 that caused the interest hike to 20%.
This is the second time in a couple of months they increase interest rates, and combined they are a 3% increase in a short time. And the Ruble remains at a low value.
For anyone in doubt, this is a strong indicator that the Russian economy can’t handle the pressure of the war. Russian wages are losing value fast, and investments are very expensive, so a further decline in the Russian economy is likely. Especially since there is no cheap unemployed labor to draw growth from, which there normally would be in a situation of economic decline, but there is already full employment.
The Russian economy is in decline and overheating at the same time.
Alternate headline: “‘Stagflation’ hits russian economy”
If Russians elected a log to be president and it stayed in power since 2000, they would have enjoyed a much better economy right now. Allowing a complete lunatic to stay in power is complete lunacy.