“The collapse of the Russian economy that many had hoped would precipitate the demise of Putin's regime also did not materialise. The economy is, in fact, in overdrive due to the unprecedented military spending, with the national gross domestic product (GDP) growing faster than the world's average, wages rising at a record rate and the percentage of people living in poverty falling back to levels not seen since the collapse of the USSR. This overdrive may backfire, but not too soon and likely not catastrophically.”
08 Jan 2024
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