Business

Russia’s economy has been showing signs of strain over the past two years, exacerbated by the invasion of Ukraine in February 2022.

According to Western-aligned Russian media outlet Current Time, the prices of basic goods such as potatoes, milk, and butter have skyrocketed, coinciding with a noticeable rise in theft-related crimes.

Interest rates in Russia have surged to a record 21%, while inflation has reached historic highs.

For nearly three years, the Russian economy has been heavily focused on supporting the war effort, prioritizing the mass production of missiles, tanks, and military uniforms.

Recently, several top executives from major Russian companies warned that many businesses might permanently shut down due to the country’s dire economic situation.

Although Russia is projected to experience economic growth in 2024, forecasts for the following year paint a much bleaker picture.

(QG - Daily Express / Current Time / Picture: © Pixabay)