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Putin's spiraling war spending hammers economy

Por: Newsweek World July 27, 2024

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Russia's economic growth is predicted to drop according to its Central Bank, which has announced a dramatic key interest rate rise to curb growing inflation and an overheating economy following Vladimir Putin's full-scale invasion.Russia's Central Bank increased the interest rate at which other banks can borrow from 16 percent to 18 percent—not far shy of the 20 percent announced at the start of the war—and the bank's... + full article



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