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Russian economy in freefall as mortgage costs triple and mass layoffs cripple major firms (www.irishstar.com)

submitted 4 months ago by SalaciousBCrumb@lemy.lol to c/world@quokk.au

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Russia's economy is teetering on the brink of collapse, with industrial production taking a nosedive and major corporations initiating widespread layoffs as the impact of a three-year war with Ukraine inevitably hits home.

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[–] some_guy 3 points 4 months ago

Putin can't have all those soldiers die and not have anything to show for it. People would be too angry. Between the deaths and the austerity, he's in a bind and has to justify the hard times.