Putin aide issues warning on Russian economy

"The Russian economy is showing signs of strain and monetary policy must be eased quickly to avoid further decline, a top Kremlin adviser has warned.

The Bank of Russia cut its key interest rate by 100 basis points in June, to 20%, citing easing inflation. This marked the first rate reduction since 2022, when the central bank adopted a tight monetary policy to stabilize the economy amid Western sanctions.
Boris Titov, Presidential Commissioner for Entrepreneurs’ Rights of Russia, sounded the alarm while commenting on a new survey by the Russian Academy of Sciences’ economic forecasting institute, which assessed industrial and infrastructure enterprises this spring.
”The results, though expected, are not too encouraging,” Titov wrote on Telegram on Monday, pointing to falling investment activity." RT