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[ Thu, Dec 19th 2024 ]: The New York Times
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Putin admits Russian inflation is an 'alarming signal' and the economy is 'overheating'

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Russian President Vladimir Putin on Thursday said that inflation is a problem in Russia and that the country's economy is overheating.
In a recent statement, Russian President Vladimir Putin acknowledged that the country's inflation rate, which has surged to 7.8% annually, is an "alarming signal" indicating that the Russian economy is overheating. This admission comes amidst a backdrop of economic challenges including a significant labor shortage, with around 3 million workers missing from the workforce, partly due to military mobilization and emigration following the invasion of Ukraine. Putin highlighted the need for a tight monetary policy to manage inflation, while also noting the positive aspects of economic growth, such as a 5.4% GDP increase in the first quarter. Despite these growth figures, the high inflation rate and economic overheating pose significant concerns for Russia's economic stability.

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