this post was submitted on 20 Dec 2024
110 points (96.6% liked)

World News

394 readers
201 users here now

Rules:

  1. Be a decent person
  2. No spam
  3. Add the byline, or write a line or two in the body about the article.

founded 2 months ago
MODERATORS
Deceptichum@quokk.au
Grainne@lemmy.dbzer0.com
PhilipTheBucket@ponder.cat
110
Putin admits Russian inflation is an ‘alarming signal’ and the economy is ‘overheating’ (www.cnbc.com)
submitted 2 days ago by slartibartfast@lemm.ee to c/world@quokk.au
6 comments fedilink hide all child comments
 

Russian President Vladimir Putin on Thursday said that inflation is a problem facing Russia, and that the country’s economy is overheating.

“There are some issues here, namely inflation, a certain overheating of the economy, and the government and the central bank are already tasked with bringing the tempo down,” Putin said in his annual “Direct Line” Q&A session with Russian citizens on Thursday, in comments translated by Reuters.

you are viewing a single comment's thread
view the rest of the comments
[–] DrunkenPirate 15 points 2 days ago (1 children)

I don’t believe the „over heating“ part of this message. I think it’s rather the „lack of“ explanation. Lack of needed imports, lack of labor force (men going into war), lack of civil production at all, …

When a country changes its economy to war-economy, inflation often shows up.

[–] Valmond@lemmy.world 5 points 2 days ago* (last edited 2 days ago) (1 children)

Yeah that's just putin trying to paint the economical disaster as something good.

Overheating: not enough goods to be bought because of growing demand.

Russia: not enough goods to be bought because of lowered production.

Or so I understand it.

[–] humanspiral@lemmy.ca -2 points 1 day ago (1 children)

AFAIU, its actually just skyrocketing wages making everything expensive. I'm not aware of serious shortages.

[–] Valmond@lemmy.world 3 points 1 day ago

Well now you are, there are shortages of about all imported goods due to sanctions, duh. That includes lots of food, it's not just iPhones.

Skyrocketing wages too, because the Kremlin prints money like the Weimar republic. To fund a losing war in Ukraine.