“The Russian economy continues to stabilize. Inflation has slowed down, weekly price growth has come close to normal, and for a certain number of products, prices have already started to fall,” he stressed during a government meeting focused on economic issues. .
According to Putin, this is due to two factors: the good health of the ruble, which has been “actively strengthened in recent times” until it has recovered pre-crisis levels, and the “dynamics of consumer demand”, which has returned to normal after a “peak in February-March”.
Ensuring that there is no need to “lose control of the situation”, the Russian president called for “guaranteeing the progressive normalization of price dynamics” and avoiding “a spectacular drop in demand”.
Russia was hit by a series of sanctions from Western countries after its military intervention in Ukraine, which began on February 24. The measures included embargoes on key exports, which caused inflation, which was already particularly high in the wake of the Covid-19 pandemic, to skyrocket.
Vladimir Putin assures that the Russian economy has withstood the blow, but economists believe that the worst is yet to come, as the impact of the sanctions becomes more and more visible.
Source: Ambito
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