Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Jason Ma

Russia's economy minister admits 'reserves have largely been used up' while communist lawmaker warns of 1917-style revolution as GDP shrinks

(Credit: MIKHAIL KLIMENTYEV/SPUTNIK/AFP via Getty Images)

The Kremlin offered more indications that it’s acknowledging Russia’s economy is in trouble after years of relying on military spending for growth.

Last week, Economy Development Minister Maxim Reshetnikov told a business conference that the economy “is not easy” and called for reallocating the workforce, which has been tight as Russia’s war on Ukraine and the boom in defense production have created labor shortages.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.