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Ukraine War Brief Podcast @ukrainewarpod.bsky.social · 19/06/2025

⚠️ ‼️ ⛔️ “Nabiullina announced the exhaustion of the last resources of the Russian economy. “The resources that allowed the Russian economy to show growth for two years under conditions of war and sanctions have been exhausted head of the Bank of Russia Elvira Nabiullina said at SPIEF.”

The resources that allowed the Russian economy to show growth for two years under conditions of war and sanctions have been exhausted, the head of the Bank of Russia Elvira Nabiullina said at the St. Petersburg International Economic Forum on Thursday. "We have been growing at a fairly high rate for two years because free resources were used," she said.

According to Nabiullina, this concerns the workforce, production capacity, capital reserves of the banking system, as well as money from the National Welfare Fund, with the help of which the government has been patching up "holes" in the budget and paying for trillion-dollar mega-projects.

"We need to understand that many of these resources are truly exhausted," Nabiullina said (quoted by TASS). The unemployment rate, according to Rosstat, has dropped to a historic low of 2.3%, while mass emigration and the drafting of men for the war have created a shortage of personnel, which the government estimates at 2 million people.

According to Rosstat, the level of capacity utilization at enterprises exceeded 80%, which became a record in modern history. The liquid assets of the National Welfare Fund have decreased threefold since the beginning of the war - to 2.8 trillion rubles.
And this reserve will be completely exhausted in 2026 warned RANEPA experts.

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Ukraine War Brief Podcast @ukrainewarpod.bsky.social · 19/06/2025

"We have been growing at a fairly high rate for two years because free resources were used.” This concerns the workforce, production capacity, capital reserves of the banking system, and from the NWF, from which the gov has been patching up "holes" in the budget and paying for mega-projects.

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Ukraine War Brief Podcast @ukrainewarpod.bsky.social · 19/06/2025

"We need to understand that many of these resources are truly exhausted," she said. The unemployment rate, according to Rosstat, has dropped to a historic low of 2.3%, while mass emigration and drafting of men for war have created a shortage of personnel, which the government estimates at 2M people.

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