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[ Sat, Nov 30th 2024 ]: Bill Williamson
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Thu, November 28, 2024
[ Thu, Nov 28th 2024 ]: Bill Williamson
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[ Thu, Nov 28th 2024 ]: Bill Williamson
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Putin claims 'everything is under control' as inflation spikes and ruble plummets

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The currency has depreciated to levels last seen at the onset of the war due to new sanctions. Heavily reliant on imports, the country is grappling with rising inflation exacerbated by military spendi
In an article published by El País on November 29, 2024, Russian President Vladimir Putin asserts that the situation in Russia is under control despite economic challenges. The article details how inflation in Russia has spiked to 7.5%, significantly higher than the central bank's target of 4%, and the ruble has plummeted to its lowest level since the early days of the Ukraine conflict. Putin attributes these economic woes to external factors, including Western sanctions and a drop in oil prices, while insisting that the government has measures in place to stabilize the economy. Critics, however, argue that the government's response has been inadequate, pointing to rising public discontent and economic hardship. The piece also mentions the central bank's decision to raise interest rates in an attempt to curb inflation, though this has not yet shown significant results.

Read the Full El País in English Article at [ https://english.elpais.com/economy-and-business/2024-11-29/putin-claims-everything-is-under-control-as-inflation-spikes-and-ruble-plummets.html ]