Putin Knows More Than We Realize
Summary
Andrei Klepach, chief economist of Russia’s state development bank, warned in a report that Russia’s current economic policies will cause social and economic crisis and increase dependence on China. His report, critical of Russia’s war with Ukraine and its economic effects, was leaked to the media, and shortly after, Klepach was removed from his position.Key Facts
- Andrei Klepach is a respected Russian economist who worked at the Ministry of Economic Development and VEB bank.
- In May, Klepach presented a report warning that Russia’s economy cannot sustain the war with the West.
- He predicted very low or no growth in Russia’s economy and a decline in investment by 2026.
- Klepach warned that Russia is becoming very dependent on China, possibly losing some sovereignty.
- He said Russia is falling behind in technology and the economy compared to not only the US and China but also Ukraine.
- Despite his warnings, Klepach continued working for three months until his report was leaked.
- After the media published the report, Klepach was removed from his position at VEB.
- The article suggests President Putin knew about these problems but may be trying to keep them from the public before elections.
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