December 15, 2024

Ghost of Economy Future


Ghost of Economy Future
Russia's Ministry of Finance. Ludvig 14, Wikimedia Commons

Russian state media surveyed economic analysts on how they feel the Russian economy will perform in early 2025.

All analysts predicted an increase in the government's lending rate. Currently, the interest rate stands at 21 percent. Half of those surveyed feel it will increase to 23 percent at the next Central Bank meeting, with some saying it could rise to as high as 24 or 25 percent.

At the same time, unemployment is strikingly low: only 2.3 percent according to state data.

While this may be a good sign for the health of the Russian economy, at the same time, inflation has been worsening. Prices have been rising by between 7 and 9 percent per week. According to some analysts, the inflation rate by the end of December could reach 9.6 percent. In addition, the Russian ruble has lost much of its value in international markets.

The picture painted by this data, as well as the analysis by Russian experts, is that the Russian economy is strong, but volatile. It will need to slow down and stabilize.

The recommended course of action? Control government spending and calm the geopolitical situation.

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