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International Business Times
International Business Times
World

Russian Government, Central Bank Spar Over Economic Downturn

Russia Alexander Novak Economy Ukraine
Russia's central bank, headed by Governor Elvira Nabiullina, has rebuffed calls to cut interest rates again (Credit: AFP)

Russian officials sparred publicly on Friday over how to boost the economy, as growth slows more than three years into its Ukraine offensive.

Moscow had shown unexpected economic resilience in 2023 and 2024, despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion.

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