Russian economic policy seems to be too focused on fighting inflation and not enough on addressing demand. Inflation in Russia is not running at about 4.5% and the central bank's target is 4%. The fiscal stance is tight since the Russian government appears to think it has to get rubles when it actually issues the ruble.
Dances with Bears
The US War Has Been Good for President Vladimir Putin, and the Russian Economy Looks Stable Through the Presidential Election. So if You Are a Us Warfighter, What Is the Regime Change Opportunity Now?
John Helmer
Dances with Bears
The US War Has Been Good for President Vladimir Putin, and the Russian Economy Looks Stable Through the Presidential Election. So if You Are a Us Warfighter, What Is the Regime Change Opportunity Now?
John Helmer
5 comments:
But you see how the 9%+ rate can still help sustain even though the other parts of the fiscal policy are tepid at best....
It's not trickling down to workers' incomes, and demand is seriously lagging.
At least it is something...
The other thing Tom is that they don't have a lot of savings to earn the interest on ....
They went for years running surpluses when the gas and oil prices were thru the roof....
Meanwhile Putin retains strong popular support largely driven by a real foreign threat.
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