"Of course, it's not easy to find staff, and salaries are rising. But nonetheless, we coped with all of that somehow because somewhere the economy there were reserves. Our current records show that these reserves have largely been used up; this truly is the situation and the macroeconomic situation is substantially more difficult."
"A significant risk from external conditions is the situation in the Middle East. If the conflict drags on, the negative effects on the Russian economy will grow."
"I expect to hear detailed reports today on the current economic situation and why the trajectory of macroeconomic indicators is not improving."
The Kremlin acknowledges economic difficulties, with Economy Development Minister Maxim Reshetnikov stating that the situation is challenging. Labor shortages due to the war in Ukraine and defense production have strained the workforce. Reshetnikov noted that economic reserves are depleted, and the macroeconomic situation is more difficult. The central bank has reduced interest rates to 14.5%, but external risks, particularly from the Middle East, could worsen the economy. President Putin expressed concerns over GDP shrinkage and demanded solutions from ministers.
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