Facebook Pinterest Tumblr
  • News
  • World
  • Politics
  • Sports
  • Entertainment
  • Technology
  • Healthcare
  • More
    • Lifestyle
    • Opinion
    • Automobiles
    • Markets
    • Economy
Search
Buna Times
Buna Times
  • News
  • World
  • Politics
  • Sports
  • Entertainment
  • Technology
  • Healthcare
  • More
    • Lifestyle
    • Opinion
    • Automobiles
    • Markets
    • Economy
HomeWorldThe Central Bank of...
July 27, 2024

The Central Bank of Russia announced the “exhaustion of the last reserves of the Russian economy”

By David
Facebook
Twitter
Pinterest
WhatsApp


    The head of the Central Bank of Russia Elvira Nabiullina announced the “depletion of the last reserves of the Russian economy.” The reserves of labor and production capacity in the Russian economy are practically exhausted.

    .in_text_content_22 { width: 300px; height: 600px; } @media(min-width: 600px) { .in_text_content_22 { width: 580px; height: 400px; } }

    .

    According to the new forecast, by the end of the year inflation in Russia will be 6.5-7.0%, and not 4.3-4.8%.

    On Friday, the head of the Central Bank described a crisis scenario that could threaten the Russian economy.

    The GDP growth rate in the first and second quarters remained high. At the same time, inflation accelerated. This means that the economy is still in a state of significant overheating. The reserves of labor and production capacity are almost exhausted. The shortage of these resources may lead to a situation where the growth rate of the economy will slow down, despite all attempts to stimulate demand. And the entire stimulus will go into accelerating inflation. In essence, this is a stagflation scenario. And it can only be stopped at the cost of a deep recession, she said.

    In fact, the head of the Central Bank described what overheating of the economy could lead to – the Bank of Russia warned about this last summer.

    Budget expenditures this year will amount to almost 38 trillion rubles — of which more than 20 trillion have already been spent. In 2023, budget expenditures were less — 32 trillion rubles.

    Before the full-scale war with Ukraine, the Russian budget expenditures usually did not exceed 25 trillion. This money is distributed throughout the economy and increases demand from the population and business.

    And this coincided with the fact that businesses can quickly increase the supply of goods and services. Firstly, sanctions and the disruption of supply chains after the war have an effect – it is difficult to quickly purchase any goods. Moreover, difficulties with payments have recently arisen.

    Therefore, the Russian Central Bank met the expectations of analysts, who expected an increase in the key rate from 16% to 18%.

    Before this, the Bank of Russia kept the rate unchanged four times, the last time on June 7. It had been at 16% since December.

    Nabiullina also announced a rate increase, citing the fact that inflation does not fit into the regulator’s baseline scenario.

    The Russian Central Bank raised the key rate to a record 20% after the war in Ukraine began in February 2022. In April 2022, it reduced it to 17%, in May – to 14%. The rate was reduced until September 2022, and then only increased.

    Source: Racurs

    David
    David

    I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.

    Related

    - A word from our sponsors -

    Most Popular

    Rastics of rackets in kamenskoye: the epicenter is on fire

    Recognizing Palestine. Macron’s idea, Trump against

    Foreign Ministry of Turkey: The leader of Ukraine and the Russian Federation is in agreement with a meeting

    Without passing ships and salute: Russia canceled the main parade of Navy

    • Tags
    • Russian news

    LEAVE A REPLY Cancel reply

    Please enter your comment!
    Please enter your name here
    You have entered an incorrect email address!
    Please enter your email address here

    Previous article
    In the Kherson region, two men were detonated with explosives
    Next article
    Blinken and Chinese Foreign Minister discussed Ukraine

    More from Author

    World

    Rastics of rackets in kamenskoye: the epicenter is on fire

    David -
    World

    Recognizing Palestine. Macron’s idea, Trump against

    David -
    World

    Foreign Ministry of Turkey: The leader of Ukraine and the Russian Federation is in agreement with a meeting

    David -
    World

    Without passing ships and salute: Russia canceled the main parade of Navy

    David -

    - A word from our sponsors -

    Read Now

    Rastics of rackets in kamenskoye: the epicenter is on fire

    Recognizing Palestine. Macron’s idea, Trump against

    Foreign Ministry of Turkey: The leader of Ukraine and the Russian Federation is in agreement with a meeting

    Without passing ships and salute: Russia canceled the main parade of Navy

    Cabinetry appointed Deputy Minister of Defense

    Avarius-Satal at Mest Aviaudar on a medical registry (photo, video) finished the work of Avarius-Satal

    In Kharkiv, emergency rescue work was completed at the site of a hostile air strike in a medical institution in an industrial district of the city, which was applied today, July 25. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px;...

    Renault has updated Super -Budget Microven Triber

    The decline was presented with the equipment of new tanks of the Minister

    Defense Minister Denis Schmigal introduced the new Deputy Minister of Defense today, July 25. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } In his telegram, he said that this deputy...

    The start of Chinese showed an exoskeleton of the knee for campaigns

    Across the region, a suspect of killing a 17-year-old girl was confined

    Only the motorcycle and the Roshez-Roshes camera remained with the Ukrainian Drone FPV under a petition.

    The Russian “War” Andriy Filatov can die near the painting today, July 25. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } This was confirmed by Russian leading telegrams. ...

    The riders were shot dead by brick in the central part of Kharkov – a set of a multifaceted house

    Russian invaders today, July 25, struck the blueberry drone in the central part of Harkiv in the Kiev district. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } The mayor of...
    Buna Time
    • DMCA
    • Privacy Policy
    • Terms of Use
    • Contact Us
    • Advertising and Outreach

    All Rights Reserved © 2023 - Buna Times