1 year ago

Russian Economy on Brink of Recession: Challenges Ahead

Russian Economy on Brink of Recession: Challenges Ahead
Why has the Russian ruble performed so well this year? · theweek.com

Russia's economy is starting to slow down because of less demand for goods, a strong currency making exports expensive, and rising prices.

The manufacturing sector is struggling, causing companies to cut jobs.

Even though the central bank has lowered interest rates, the economy is still at risk of going into a recession.

This might affect how the government spends money and could impact the war in Ukraine.

Key facts

Manufacturing PMI (June)
47.5
Inflation
Remains above Central Bank target
Interest Rate (June)
Cut to 20%
Interest Rate (July)
Cut to 18%
Economic Outlook
On the brink of a recession

Sources

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