Russia's economy is facing a perfect storm of challenges, including a plummeting ruble, soaring inflation, and the impact of Western sanctions.
When you're a Russian retiree living on a limited income, it's bad enough trying to contend with skyrocketing prices for staples like eggs, potatoes, or butter. Now add to the list of worries a swooning ruble hitting lows not seen in years. 'I see these prices, my eyes get wide,' said one retired history teacher who lives in St. Petersburg and tries to get by on a 19,100-ruble $187 monthly pension. 'What's going on Prices are rising for absolutely everything.
'As often happens in such situations, there is currently an excessive emotional component on the currency market,' Economic Development Minister Maksim Reshetnikov told reporters on November 27. 'Experience shows that, after a period of increased volatility, the rate always stabilizes.' The economic crosswinds are causing headaches for policymakers, both big and small. Regular Russians -- particularly those in poorer regions far from urban centers like St.
Ruble Inflation Sanctions War In Ukraine Vladimir Putin Central Bank Of Russia Interest Rates GDP Growth Economic Slowdown
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