Russian Bank Director Sounds the Alarm: “Our Economy is Overheating”

https://www.dagens.com/news/russian-bank-director-sounds-the-alarm-our-economy-is-overheating

by Watcher_2023

15 comments

  1. Banking is not my wheelhouse …. and any terrorist war criminal ruzzian bank in worry is good.

  5. Russian economy is literally burning through their financial reserves, the faster it grows, the faster it burns. It’s great to see.

  6. Article text as the site is absolutely filled with ads.

    A somber warning has emerged from key figures in Russia’s economic sector: the country’s economy is overheating, and the consequences could be severe.

    War-Fueled Economic Surge
    For over two years, Russia’s war in Ukraine has acted as a powerful stimulant to its economic engine.

    Despite facing sanctions and export controls, the country’s GDP grew by 3.6 percent in 2023.

    However, two years and four months into the conflict, signs are now pointing towards a potential economic meltdown. On Tuesday, the head of Russia’s largest bank raised a red flag.

    “Our economy is definitely and significantly overheating,” warned Herman Gref, CEO of Sberbank, according to Business Insider.

    Russia has now reached a production capacity that, according to Gref, cannot be exceeded and is on the brink of collapse.

    In December, Elvira Nabiullina, the head of the Russian Central Bank, also warned of the economic repercussions of Russia’s rapid growth.

    “Imagine the economy as a car. If you try to drive faster than the engine allows, it will sooner or later break down, and then we won’t get far,” she said. “We may be driving fast, but only for a short period.”

  11. The article is not very specific at all, not very informative. Ruzzian exconomy may or may not crash, we will see.

  15. The typical macroeconomic response to this is raising interest rates which makes it too expensive for companies to expand. Since it’s the government buying all kinds of military products you’ll see hyper inflation at some point. I doubt anyone here has any Roubles but if you did you should be selling like right now.

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