Anonymous
ID: OEMpW4fR
6/20/2025, 9:02:51 AM No.508067480
>Russia's economy is on the verge of sliding into recession and monetary policy decisions will now determine whether it falls into one or not, Economy Minister Maxim Reshetnikov warned on Thursday.
>Reshetnikov delivered the downbeat message at Russia's annual showcase economic forum in the northern Russian city of St Petersburg, an event sometimes called "the Russian Davos" which is meant to promote investment in the Russian economy.
>He urged the central bank to support the economy when it comes to monetary policy as the Kremlin said that the current key interest rate - of 20% - was putting a break on the economy even though that was a conscious decision.
>Russia this month cut interest rates for the first time since 2022, but borrowing costs remain close to record levels and for months businesses have complained of high rates stifling investment.
>The central bank has kept rates high to curb inflation in the overheated economy, which is focused on the needs of the military fighting in Ukraine.
>Reshetnikov delivered the downbeat message at Russia's annual showcase economic forum in the northern Russian city of St Petersburg, an event sometimes called "the Russian Davos" which is meant to promote investment in the Russian economy.
>He urged the central bank to support the economy when it comes to monetary policy as the Kremlin said that the current key interest rate - of 20% - was putting a break on the economy even though that was a conscious decision.
>Russia this month cut interest rates for the first time since 2022, but borrowing costs remain close to record levels and for months businesses have complained of high rates stifling investment.
>The central bank has kept rates high to curb inflation in the overheated economy, which is focused on the needs of the military fighting in Ukraine.
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