EU, the Russian economy grows but for the war - Last hour

2024-02-23T13:01:59.436Z

Highlights: EU, the Russian economy grows but for the war - Last hour. Inflation remains above the 7.4% target due to high government spending, high wage growth in a contracting labor market. The Central Bank was forced to raise interest rates to 16%." Thus the European Commission in an analysis on the impact of sanctions. The Russian economy continues to grow on paper, a closer look reveals that this is due to the significant increase in military spending: 6% of GDP in 2024 (equal to 109 billion euros)

"While the Russian economy continues to grow on paper, a closer look reveals that this is due to the significant increase in military spending: 6% of GDP in 2024 (equal to 109 billion euros). Russia has become a war economy. (ANSA)