Tough Economic Times In Russia

Russians have felt the pinch of rising prices and unemployment is on the rise despite authorities deciding not to impose another coronavirus lockdown 

AFP: Russia suffers economic woes despite shunning new lockdown 

As the second wave of the coronavirus pandemic pummeled Russia over recent months, the Kremlin stopped short of bringing back a nationwide lockdown in an effort to save the economy. 

Authorities in Moscow may have expected a rising virus toll as a result, but the move has not saved it from facing down an economic crisis it tried to avoid. 

"These aren't jokes. Unemployment is rising, wages are falling, basic goods are becoming more expensive by magnitudes," President Vladimir Putin said during a cabinet meeting last week. 

The magnitudes he was referring to are stark. 

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WNU Editor: This is about right .... Russian economy may shrink by 4.5% this year, Accounts Chamber chief says (TASS). So is this .... Russia’s economy ‘recovered’ quicker than most of industrialised world (Financial Times). 

Update: this is a good analysis .... Russia's Next Economic 'Shock' Likely To Come From Impoverished Regions, Experts Say (RFE).