Russian President Vladimir Putin, on the other hand, emphasized again on Wednesday that the West’s “blitzkrieg” against the Russian economy has failed.
Russian banking experts expect inflation to hit 22% this year and gross domestic product (GDP) to fall by 9.2%. This is the result of a survey by the Russian central bank. This means that expectations deteriorated further from March. Back then, bankers had expected 20% inflation and an 8% drop in Russia’s GDP in the face of Western sanctions.
Two months after the start of the Kremlin-ordered war against Ukraine, the outlook for 2023 continued to deteriorate: experts now expect no growth rather than 1% for next year.
Putin: Inflation is stabilizing
Russian President Vladimir Putin, on the other hand, emphasized again on Wednesday that the West’s “blitzkrieg” against the Russian economy has failed. Inflation, while rising to a year-on-year high of 17.5%, is now leveling off, he said. He also described the withdrawal of Western companies from Russia as an “opportunity” to free themselves from dependence on the West and establish their own production facilities.
Kremlin spokesman Dmitry Peskov said there could be no general approach to the issue of nationalization of abandoned companies under discussion in Russia. Each company behaves differently, so each case must be considered individually. There are companies that do not fulfill their obligations to their employees. “You need special attention.”
The head of Russia’s central bank, Elvira Nabiullina, admitted problems caused by Western sanctions to the Russian parliament, the State Duma. Punitive measures would affect not only areas that matter a lot, but also those that are already highly localized but rely on individual parts from abroad. Nabiullina was confirmed in office by deputies on Thursday for another five years.
(APA)