2024-08-20
9 分钟Hello, Mike Bird here, co-host of Money Talks,
our weekly podcast on markets, the economy and business.
Welcome to Editor's Picks.
We've chosen an article from the latest edition of The Economist,
which we very much hope you'll enjoy.
A Ukrainian incursion into Russia represents an enormous embarrassment for Vladimir Putin and his military leadership.
Tens of thousands of residents have been evacuated after Ukrainian troops stormed across the border.
The Russian armed forces caught off guard are being slow to respond.
The ruble is slumping as worries mount about the future of the war.
Yet on the home front, at least things look better than ever for Mr Putin.
Despite sanctions and pariah status, Russia's economy is growing strongly.
It turns out that bacchanalian spending at a time of war really gets things going.
Russian GDP will rise by over 3% in real terms this year,
continuing its fastest growth spurt since the early 2010s.
In May and June, economic activity significantly increased, according to the Central Bank.
Other real-time measures of activity, including one published by Goldman Sachs,
a bank, suggest the economy is accelerating.
Unemployment is close to an all-time low.
Inflation is too high.
In July, prices rose by 9.1% year-on-year, above the central bank's target of 4%.