Russian President Vladimir Putin acknowledged that Russia's economy is facing inflation and overheating challenges, with the government and central bank working to stabilize growth. Putin highlighted inflation concerns during his annual Q&A session, noting that the consumer price index rose in November, driven by food price increases and a weaker ruble impacted by U.S. sanctions. Military spending has also fueled labor and production shortages, pushing up costs. Russia’s central bank is expected to raise its interest rate to 23%, the highest in a decade. Putin also mentioned rising wages and disposable incomes, emphasizing the need for a "soft landing" for the economy.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Russian President Vladimir Putin acknowledged that Russia's economy is facing inflation and
00:06overheating challenges, with the government and central bank working to stabilize growth.
00:11Putin highlighted inflation concerns during his annual Q&A session, noting that the consumer
00:16price index rose in November driven by food price increases and a weaker ruble impacted by U.S.
00:21sanctions. Military spending has also fueled labor and production shortages, pushing up costs.
00:27Russia's central bank is expected to raise its interest rate to 23%, the highest in a decade.
00:33Putin also mentioned rising wages and disposable incomes,
00:36emphasizing the need for a soft landing for the economy.