Posted 3/25/2024, 6:06:00 PM
Russia Faces Economic Headwinds as War Drains Resources and Growth Prospects Dim
- Inflation could worsen as Russia struggles balancing war spending and its 4% inflation target
- Private consumption growth expected to slow as borrowing costs rise and economic risks mount
- Wage growth likely to ease in 2024 as private consumption declines
- Investment unlikely to offset lower consumer spending due to war risks
- Population decline and labor shortages major obstacles for Russia's long-term economic growth