President Vladimir Putin boasted that Russia’s economy is strong despite Western sanctions.
However, American media outlets such as CNN reported that Russia is also suffering a significant economic blow after the war.
Russia’s budget deficit for the past month was 35 trillion won. Tax revenues are down and spending is up 59% because of the war.
Here, key energy exports are disrupted and fiscal pressures are mounting, with Europe taking a direct hit by cutting imports.
President Putin insists that Russia’s economy is still intact.
[블라디미르 푸틴 / 러시아 대통령 : 서방은 우리에게 군사, 정보, 경제 제재를 가했지만, 아무것도 이루지 못했고 앞으로도 마찬가지일 겁니다.]
The strengthening ruble also fell to its lowest level in 10 months.
The value of the ruble drives up the price of imports, fueling inflation in Russia.
Since the war in Ukraine, the West has imposed more than 11,300 economic sanctions on Russia.
The United States has also stepped up additional measures, including sanctions against Russian companies.
[카린 장-피에르 / 백악관 대변인 : 바이든 대통령이 유럽에서 분명히 밝혔듯이 미국은 우크라이나가 필요로 하는 한 계속해서 우크라이나 편에 설 것입니다.]
Some experts believe that the Russian economy will be at an inflection point this year, possibly affecting the course of the war.
The problem is rising prices and food shortages that have become more serious after the first year of the war.
Ukraine also quadrupled to 26% inflation, but Africa and the Middle East were the worst hit, with Zimbabwe and Lebanon posting 230% and 122% respectively.
This is YTN Kim Seon-hee.
Video editing: Lee Young-hoon
Subtitle News: Lee Seon
[저작권자(c) YTN 무단전재 및 재배포 금지]
