putin forced to acknowledge the collapse of russia’s construction sector
The crisis in russia’s construction sector has become so obvious that putin was forced to respond.
The kremlin dictator had to publicly admit that there are “risks of slowdown” in national housing construction projects in russia. These “risks” refer to a nearly 25% decline in construction activity compared to last year, and apartment sales falling to a five-year low. One-third of all companies in the sector are at risk of becoming unprofitable.
The fact that putin personally acknowledged problems in the construction sector was meant to reassure russians, to create the illusion that the issues are minor and will be easily overcome under the personal control of the russian dictator. However, in reality, the collapse of the construction sector reflects broader problems in russia’s economy — driven by massive war spending against Ukraine, sanctions, a financial crisis, and more.
Earlier, putin also “took control” of the coal industry crisis — but no improvements followed. As long as the war continues, these problems will only deepen.
