In September, the recovery of economic activity in Russia stalled and by the end of the month the trend began to deteriorate, the report said.
The so-called partial mobilization in Russia will worsen labor shortages and weaken consumer confidence and business activity and likely weigh on the economy in the coming months. This was reported by Bloomberg in connection with the report of the analytical department of the Central Bank of the Russian Federation.
“In September, the recovery of economic activity stalled and by the end of the month, the trend began to deteriorate,” the report said.
The agency recalls that more than 350,000 citizens fled Russia from the mobilization. This exacerbated the country’s acute labor shortage and “had a negative impact on consumer and business confidence.”
“A shift in consumer sentiment amid growing uncertainty may temporarily dampen the recovery in consumption in the early fourth quarter,” the report said. “Workforce reductions after partial mobilization could complicate efforts by companies to remove supply-side constraints and limit the overall trend in economic activity in the coming months.” .
It was previously reported that the Russian Federation’s international reserves fell by $25 billion in a month. As of early October, they reached $540.7 billion.
Russia’s revenues from oil exports fell to a record low in September – media
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Source: korrespondent
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