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The central bank's attempt to manage inflation through aggressive interest rate increases—from 7.5% to a staggering 21%—has not yielded the desired outcomes. In fact, inflation has continued its upward trend, suggesting that while household borrowing may be subdued, corporate borrowing remains robust due to state pressure.
Two Perspectives on Potential Economic Collapse
Kennedy’s analysis can be interpreted through two distinct lenses regarding potential risks to the Russian economy.