Experts note that the Russian economy is exhibiting distinct indicators of deceleration in certain sectors, attributed to decreasing growth rates and elevated inflation levels.
The Russian central bank has increased interest rates to a 20-year high of 21 percent as Moscow tries to slow the economic consequences of its invasion of Ukraine and a series of Western sanctions.
Inflation exceeds the government's 4 percent target by more than double, largely due to large-scale military spending, and the ruble's value has significantly decreased in recent months.
Russia has significantly boosted its military expenditure following its invasion of Ukraine. This rise in military spending has helped the economy resist forecasts of a prolonged recession, although it has also resulted in severe labor shortages and ongoing inflation.
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