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The Times of India

World

Subhadra Srivastava

Boom at the front, bust at home: Russia’s war economy is holding but its people are cracking

Russia Economy the Bank of Russia Vladimir Putin International Monetary Fund Unemployment World Bank Inflation European Union

By 2024, Russia appeared to have defied expectations. Despite unprecedented Western sanctions, the economy grew by 4.9%, unemployment fell to record lows, and factories linked to the defence sector ran around the clock. President Vladimir Putin pointed to these figures as proof that Russia had adapted to wartime conditions.

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