elvira nabiullina, head of the central bank of the russian federation, addressed the state duma in an attempt to reassure citizens following a record increase in the discount rate.\u00a0 However, her speech, heavily circulated by propaganda outlets, had the opposite effect.<\/p>\n
\u25ab\ufe0f nabiullina admitted that the economy faces an “unprecedented” situation, and stated that the increase in the discount rate is a necessary measure to combat inflation and prevent “explosive growth in lending.”<\/p>\n
\u25ab\ufe0f She asserted that these steps would “pay off” in the long run. Despite this, her address sparked mostly negative reactions from both ordinary citizens and kremlin-loyal politicians, some of whom called for nabiullina’s resignation.<\/p>\n
\u25ab\ufe0f It is increasingly clear that the real sector of the russian economy is spiraling out of control. For instance, russia has been forced to import butter from Turkey to curb soaring prices, partly driven by the discount rate hike.<\/p>\n
Despite russian propaganda\u2019s efforts, the real sector\u2019s problems are becoming too evident to ignore. Contributing factors include reduced imports of essential raw materials, maintenance challenges with foreign equipment due to sanctions, labor shortages, and more\u2014all consequences of russia\u2019s aggression against Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"
elvira nabiullina, head of the central bank of the russian federation, addressed the state duma in an attempt to reassure citizens following a record increase in the discount rate.\u00a0 However, her speech, heavily circulated by propaganda outlets, had the opposite effect. \u25ab\ufe0f nabiullina admitted that the economy faces an “unprecedented” situation, and stated that the…<\/p>\n","protected":false},"author":3,"featured_media":22726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","wds_primary_category":930,"footnotes":""},"categories":[930],"tags":[],"class_list":["post-22725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rf-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/22725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/comments?post=22725"}],"version-history":[{"count":0,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/22725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media\/22726"}],"wp:attachment":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media?parent=22725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/categories?post=22725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/tags?post=22725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}