Putin Blames Sanctions, Worker Shortages

This is a Russia news story, published by Newsweek, that relates primarily to Central Bank news.

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tighter monetary policy

Newsweek

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Putin admits economic "difficulties" as interest rates skyrocket

Summary

Nutrition label

71% Informative

Russia 's Central Bank raised its key interest rate to a record 21 percent .

Russia 's economic growth has been fueled by record levels of military spending but a lack of workers exacerbated by troop losses in Ukraine and a brain drain of those avoiding the draft.

Inflation is 8.6 percent which is more than twice the Central Bank's goal of four percent which the growing interest rate aims to address.

VR Score

Informative language

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formal

Language

English

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not offensive

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