Russia faces worst economic shock| MENAFN.COM

Wednesday, 10 August 2022 02:14 GMT

Russia faces worst economic shock


(MENAFN) According to Russian Finance Minister Anton Siluanov, the Russian economy has recovered from the first round of penalties imposed by the West. It would be difficult to overcome the constraints, but wise financial and budgetary policies is going to enable the nation to endure them and retain financial sovereignty, he claimed on Wednesday.

“but it will not be as tough as it would be if the government had not taken appropriate support measures,” Siluanov declared, noting that “The first shock, we believe, has passed. Although all these sanctions packages are still being prepared.”

The minister also stated that the administration has taken a number of initiatives to ensure financial stability, including the easing of limitations that were first imposed as an emergency response to the penalties.

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