Russia's economy is teetering on the brink of a major crisis. Inflation is surging, interest rates have been hiked to a staggering 18%, and labor shortages are exacerbating the strain on the nation’s financial system. The Central Bank's drastic measures reflect the severity of the situation, driven by external sanctions and internal economic weaknesses. With the ruble's value declining and the workforce dwindling, the country faces a grim economic outlook. This exploration delves into the key factors behind Russia's unraveling economy and the challenges that lie ahead for its future stability.
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