The Central Bank of Russia prescribed “shock therapy: Putin’s military economy…

Pumped up on steroids with trillions of rubles in military spending, the Russian economy is nearing breaking point. While officials are reporting on the victory over sanctions, bragging about the growth of GDP  and the increase in the incomes of hundreds of thousands of poor people sent to war, the Russian Central Bank is quietly “sounding the alarm”.
At its meeting on Friday, the Central Bank raised the key rate for the seventh time to 19% per annum, a level the economy has seen only once in the last two decades, in the first weeks of the invasion of Ukraine, when Russia was hit by a “tsunami” of Western sanctions.

● The Central Bank was considering raising the interest rate to 20% and may do so at the next meeting, the head of the regulator, Elvira Nabiullina, said at a press conference.
● In terms of rates, Russia has already been compared with bankrupt states and third-world countries. The current rate of the Central Bank of the Russian Federation is higher than in Zambia (13.5%), Gambia (17%), and Pakistan (17.5%) and is approaching the level of Angola (19.5%). Its further growth will put Russia on a par with Zimbabwe (20%) and Lebanon (20%)…