Russian President Vladimir Putin on Thursday said that inflation is a problem facing Russia, and that the country’s economy is overheating.
“There are some issues here, namely inflation, a certain overheating of the economy, and the government and the central bank are already tasked with bringing the tempo down,” Putin said in his annual “Direct Line” Q&A session with Russian citizens on Thursday, in comments translated by Reuters.
Cool, he should kill himself tho.
I don’t believe the „over heating“ part of this message. I think it’s rather the „lack of“ explanation. Lack of needed imports, lack of labor force (men going into war), lack of civil production at all, …
When a country changes its economy to war-economy, inflation often shows up.
Yeah that’s just putin trying to paint the economical disaster as something good.
Overheating: not enough goods to be bought because of growing demand.
Russia: not enough goods to be bought because of lowered production.
Or so I understand it.
AFAIU, its actually just skyrocketing wages making everything expensive. I’m not aware of serious shortages.
Well now you are, there are shortages of about all imported goods due to sanctions, duh. That includes lots of food, it’s not just iPhones.
Skyrocketing wages too, because the Kremlin prints money like the Weimar republic. To fund a losing war in Ukraine.
It’s the best economic problem to have, which should have been a winning platform for DNC if they didn’t work for Netanyahu and his preferred winner.
Russia’s economy has high wage inflation. Army is paying very well which is forcing all other business to pay well enough to offer alternative to army. Everyone who wants a job has a job. IMF still projects it to have higher growth (measured in USD) than NATO colonies, and it jumped to 4th largest economy last year (in PPP terms).