{"id":4819,"date":"2026-04-25T21:04:36","date_gmt":"2026-04-25T21:04:36","guid":{"rendered":"https:\/\/stock999.top\/?p=4819"},"modified":"2026-04-25T21:04:36","modified_gmt":"2026-04-25T21:04:36","slug":"russia-economy-minister-says-reserves-have-largely-been-used-up-while-lawmaker-warns-of-revolution","status":"publish","type":"post","link":"https:\/\/stock999.top\/?p=4819","title":{"rendered":"Russia economy minister says ‘reserves have largely been used up’ while lawmaker warns of revolution"},"content":{"rendered":"

<\/p>\n

The Kremlin offered more indications that it\u2019s acknowledging Russia\u2019s economy is in trouble after years of relying on military spending for growth.<\/p>\n

Last week, Economy Development Minister Maxim Reshetnikov told a business conference that the economy \u201cis not easy\u201d and called for reallocating the workforce, which has been tight as Russia\u2019s war on Ukraine and the boom in defense production have created labor shortages.<\/p>\n

\u201cOf course, it\u2019s not easy to find staff, and salaries are rising,\u201d he said. \u201cBut nonetheless, we coped with all of that somehow because somewhere in the economy there were reserves. Our current records show that these reserves have largely been used up; this truly is the situation and the macroeconomic situation is substantially more difficult.\u201d<\/p>\n

Reshetnikov added that ruble has appreciated more than he would prefer and that interest rates are still too despite a series of rate cuts from the central bank.<\/p>\n

Businesses will have to figure out how to mange costs and spending while also boosting productivity, he said, citing advances in artificial intelligence. <\/p>\n

On Friday, the central bank slashed the benchmark interest rate again, marking the fifth straight half-point reduction, to bring it down to 14.5%.<\/p>\n

\u201cA significant risk from external conditions is the situation in the Middle East,\u201d Governor Elvira Nabiullina said at a briefing. \u201cIf the conflict drags on, the negative effects on the Russian economy will grow.\u201d\u00a0<\/p>\n

The latest cut came a week after Russian President Vladimir Putin made his concerns about the economy public as he vented frustration at ministers and demanded they offer solutions.<\/p>\n

During a televised meeting on the economy on April 15, he revealed that GDP shrank by a combined 1.8% in January and February, adding that manufacturing, industrial production, and construction were negative.<\/p>\n

\u201cI expect to hear detailed reports today on the current economic situation and why the trajectory of macroeconomic indicators is currently below expectations,\u201d Putin said. \u201cMoreover, below the expectations of not only experts and analysts, but also the forecasts of the government itself and the central bank of Russia.\u201d<\/p>\n

The scolding follows a series of warnings over the past year that Russian officials and Kremlin allies in the private sector have raised. <\/p>\n

They\u2019ve sounded the alarm\u00a0that a\u00a0financial crisis could hit by the summer\u00a0amid spiraling inflation and that consumers were having trouble servicing their loans,\u00a0raising concerns of a crash in the banking sector.<\/p>\n

The situation has grown so dire that a veteran lawmaker in Russia said that people could rise up and stage a revolution like the\u00a0Bolsheviks did in 1917.<\/p>\n

Gennady Zyuganov, the longtime leader of Russia\u2019s Communist Party, told\u00a0the lower house of \u200cparliament that the meeting Putin convened with his ministers was the gloomiest in a long time, according to Reuters.<\/p>\n

\u201cIf you (the government) do not urgently adopt financial, economic and other measures, by \u200cautumn a repeat of what happened in \u20601917 awaits us,\u201d he said. \u201cWe don\u2019t have the right to repeat that. Let\u2019s take some decisions.\u201d<\/p>\n

To be sure, there are no signs of a popular uprising. But the Kremlin has recently cracked down on internet access recently as Russia suffers heavy casualties in Ukraine while inflation prompts consumers to complain about the cost of living.<\/p>\n

\u00a0Sweden\u2019s military intelligence chief also told the Financial Times that Russia\u2019s economy is weaker than it appears, adding that its military-industrial complex is losing money, ravaged by corruption, and dependent on lending from state-run banks.<\/p>\n

\u201cThey still have a systemic problem,\u201d Thomas Nilsson said. \u201cIt\u2019s not a sustainable growth model to produce material for the war that is then destroyed on the battlefield.\u201d\u00a0<\/p>\n

Meanwhile, Ukraine\u2019s advances in drone technology have also enabled it to strike deep into Russian territory, targeting oil infrastructure to prevent Moscow from fully exploiting the spike in crude prices and cut off fuel supplies for Putin\u2019s military.<\/p>\n

A recent attack on a Russian refinery in Black Sea resort of Tuapse caused a fire that released huge amounts of smoke into the air.\u00a0The black rain that later fell covered the town in drops of dark, oily toxins.<\/p>\n

\u201cThe child played in the yard for 10 minutes. Their hands are completely covered in fuel oil,\u201d one resident\u00a0posted on Telegram.<\/p>\n

#Russia #economy #minister #reserves #largely #lawmaker #warns #revolution<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kremlin offered more indications that it\u2019s acknowledging Russia\u2019s economy is in trouble after years…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[245],"tags":[649,10027,10028,571,1317,5442,788,4733,5039,372],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/4819"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4819"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/4819\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}