The Intelligence: Bear up
The Intelligence from The Economist
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Sustainable Spending and Employment in the Russian Economy
Past stimulus has led to households and businesses accumulating significant cash reserves, enabling sustained spending amidst high inflation and interest rates. The high employment levels in Russia support consumption, with businesses reluctant to lay off workers due to labor shortages. Russia's economy has also benefited from the reopening of businesses under Russian management that were formerly owned by Western investors. Despite sanctions, Russia has restructured its trade relationships with other countries, providing a lifeline in the global economy.
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