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Russia braces for economic upheaval as sanctions start to bite
[AFP] Authorities have stopped releasing key data, making it difficult to assess the impact of sanctions.But the few available economic indicators point to significant problems. Strict capital controls, high energy prices and a collapse in imports have led to a surge in the ruble, prompting Russia's central bank to slash its key rate last week in a bid to rein in the currency. And revenues from domestic value-added or sales tax collapsed by more than a half in April, VAT fees on imported goods dropping by a third compared to the same month in 2021. Read the rest at the link Posted by: Matt 2022-06-12 |
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