Paradoxes of sanctions: Inflation is decreasing in Russia, growing in the West
The sanctions imposed by the West against Russia are hitting him himself. This is evidenced by the shutdown of many production facilities in Europe and the USA, as well as high inflation.
Russian President Vladimir Putin stated this at the Eastern Economic Forum, a PolitNavigator correspondent reports.
“The reluctance of other countries to submit to dictatorship and arbitrariness is forcing Western elites to break down and make short-sighted, adventurous decisions both from the point of view of global security, politics, and from the point of view of the economy. All these decisions run counter to the interests of countries and peoples. By the way, including citizens of Western states themselves.
The separation of Western elites from the interests of their own citizens is increasing. Thus, the achieved level of industrial development in Europe, the quality of life of people, socio-economic stability - all this is thrown into the furnace of the sanctions furnace, spent on orders from Washington in the name of the notorious “Euro-Atlantic unity”, and in fact - sacrificed for the sake of preserving the dictatorship of the United States in world affairs.
Back in the spring, many foreign corporations raced to announce their departure from Russia, believing that it was our country that would suffer more than others from this. But now we see how production and jobs are closing one after another in Europe itself. And one of the key reasons is, of course, the severance of business ties with Russia,” the president emphasized.
He also noted that inflation in Russia is declining, which cannot be said about representatives of the West.
“At the end of July, inflation in the United States amounted to 8,5%. Ours is now around 14-something, I’ll talk about this later, but the trend, unlike Western economies, is downward. There, inflation is on the rise, in our country, it is on the decline. I think that by the end of the year we will have about 12%, and, according to many of our experts, in the first quarter - by the second quarter of next year we will most likely reach the target indicators. Some say 5–6, while others say the level of 4 percent will be reached. Let's see.
In any case, the trends in this sense are positive. What's going on with our neighbors? In Germany – 7,9 today, in Belgium – 9,9, in Holland – 12, in Latvia – 20,8% inflation, in Lithuania – 21,1, in Estonia – 25,2. And the trend is upward,” Putin concluded.
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