JEA: If you think that Russia is part of the New World Order, then think again. Perhaps you need to read the following article by the Associated Press.

By the Associated Press

Russia’s central bank cut interest rates back to their prewar levels Friday, saying inflation and economic activity were developing better than expected despite sweeping Western sanctions imposed in response to the war in Ukraine.

The bank lowered its key rate by 1.5 percentage points, to 9.5%. The rate had been as high as 20% in the wake of the Feb. 24 invasion of Ukraine and the resulting sanctions by the U.S., European Union and other nations that restrict dealings with Russian banks, individuals and companies.

Economists say that over time the sanctions will corrode growth and productivity, but the central bank has managed to stabilize Russia’s currency and financial system through drastic measures such as high interest rates, restrictions on flows of money out of the country and a requirement that importers sell their foreign currency earnings for rubles.

Those measures have helped push the Russian currency’s exchange rate to 58.12 against the dollar Friday, compared with 78.8 rubles to the dollar on Feb. 23, the day before the invasion.

Inflation was an annual 17% in May but appeared to have passed its post-invasion peak of 17.8% and to be headed down amid lower price increases in May and June, the central bank said. It predicted inflation would average 14% to 17% this year, decline to 5% to 7% next year and return to 4% in 2024.

Recent data pointed to a halt in the decline of business activity in May.

“The external environment for the Russian economy remains challenging and significantly constrains economic activity,” the central bank said.

While the bank has been able to prop up indicators such as the exchange rate, economists say the long-term impact of Russia’s disrupted ties with the global economy will be severe.

On top of sanctions, many international companies have abandoned their investments in Russia due to the increased difficulty of doing business or because they do not want to be associated with the war.

The Institute of International Finance predicts the Russian economy will contract by 15% in 2022, followed by a further 3% decline in 2023, and the country faces the loss of the last 15 years of economic gains.

SOURCEAssociated Press

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9 COMMENTS

  1. Putin is Cold as Ice and is walking across the lake just fine…

    the hav finished the rail traks and yards (transloading) on the russian side of the Kerch.. finished the bridge going into china – Lionel the little Diesel Electric; chugged rite on into the chiacoms. soo the roads are out and the rail is in…

    we spend a lot of thrifty time – blastinig to the past WW-I ,and making new deals where the deal makers had to board a steamer.. regan is dead – bush is on heavy meds – joe probably gone by miderm – trump wil goo by the revenge wayside when joe jumps under the buss..

    as to bubbles… The USA is the only country that has this verbage in its lexicon.. everyoher counry prints out or has doube digit inflation..

    that old Keynesian economics and them chicago boys from the kellog school; worked in an economy that could B controlled by the Blackfield Schoals Models..

    thats gone ! supply side is now demand side – heat – big maks – tax revenues and gamers w AK-47’s

    toss in the gazprom cut yesterday of 30% – them compressor pumps sent to canada and the sanctions that barred their return to replace damageed gas line re-compression from russia..

    and this was not planned in the polti-burea ??

    forget it – the reds are kicking our asses; bailing wire and buble gums will not add more hot air to the xxpired franchises..

  2. Not a word in this article about the Belt and Road Initiative that will unite Russia and China with more than 70 nations in a financial system based on cooperation and mutual respect rather than domination and exploitation. This can’t happen soon enough. Problem is, the Military Industrial Complex want to increase US military aid to Ukraine and crazy US Christian Zionists want a catastrophic war with Russia that will usher in Armageddon. May Heaven preserve us all from the wrath of the chosenites.

    • Every ethnic group on earth has a specific ego mentality where they believe they are the superior group. The worst such group in terms of ego and stupidity is definitely the Khazars. I call them the ‘Lizard food’ because they basically adhere to Reptilian control documents like the Protocols of Zion thinking they will rule everyone else. In the end, they will just be Lizard food, being bred as slaves at DUMBS.

      Somewhere down the list are those dumb Southern hillbillies. Each little American welfare town has some type of backward church where they believe only themselves are God’s chosen people, and hey, if they handle enough poisonous snakes, then… Off to India where we go, and I guess if enough of your wives get immolated in Sati after you die, you too might go to Hindu heaven. It’s pretty much bad everywhere. The best religion was a form of Buddhism practicing spirituality. That’s why Mason run Sunni Islam, Zionism and Catholicism spent so much time wiping it out.

    • The Sikhs had it right. Always carry a dagger in case some other sect is trying to burn down your house. The Granth Sahib explains all.

    • Christian Zionism is a contradiction in terms. But then again, “Bible Alone” Protestantism from which it proceeds is incoherent Christianity. So is post-1958 takeover counterfeit Catholicism. Traditional Catholicism is the only Christianity that has kept its roots in the teaching of the Apostles as handed down (that’s what “tradition” means”) thru the centuries, but it is a small minority today, although growing, esp. with the obvious non-Christian NWO puppet Francis sullying the holy Chair of St Peter.

  3. You have to pay to play. Right now, Putin’s treading water but he has proven long distance swimming skills. No wartime economy ever survives its bubble. We will see how Russia fares down the road.