Pro-Government Economists Slam Central Bank's Decisions

Blame Game Begins as Russia's Economy Falters

Central Bank Accused of Plunging Russia into 'Stagflation'

Pro-government economists in Russia are pointing fingers at the central bank, blaming it for the country's current economic woes. The economists argue that the central bank's decision to raise interest rates in an effort to curb inflation has backfired, resulting in a slowdown in economic growth and a rise in unemployment, a condition economists call stagflation.

The central bank's decision to raise interest rates was made in an effort to combat rising inflation. However, the move has had the unintended consequence of making it more expensive for businesses to borrow money and invest, which has led to a slowdown in economic growth. The rise in interest rates has also made it more difficult for consumers to borrow money, which has led to a decline in consumer spending. As a result of the central bank's actions, Russia's economy is now on the brink of recession.

The economists' criticism of the central bank is not without merit. The bank's decision to raise interest rates was made without taking into account the potential impact on economic growth. As a result, the bank's actions have made the situation in Russia worse.