Published on: 04/18/2022 – 17:57
Russia is the most heavily sanctioned country in the world, ahead of Syria and Iran. But these sanctions weaken Westerners, according to Vladimir Putin. In his speech on the state of the Russian economy on Monday, April 18, the Russian President added that inflation in his country was stabilizing and demand was normalizing.
A speech to affirm that the blockade of the Russian economy had failed. For Vladimir Putin, “the sanctions decided by Western countries have caused their economies to deteriorate”.
The Russian President said inflation in his country was stabilizing and demand had returned to normal.
“Russia has resisted this unprecedented pressure from the West,” he said. He therefore ordered the government to index wages and other payments to mitigate the impact of inflation on purchasing power.
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Consumer price inflation still reached 17% in March in the country. Inflation remains very high and should stabilize at around 4% within about two years. This was indicated by Elvira Nabioullina, governor of the Central Bank of Russia.
It hopes to cut its policy rate as soon as possible, the main tool to stem the ruble’s fall. It was raised to 20% at the end of February from 9.5% before the Russian invasion of Ukraine.
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